Law360, New York (January 12, 2009, 12:00 AM ET) -- The European Commission said Monday it was investigating whether Standard & Poor's abused its dominant market power by forcing financial firms to pay fees for use of International Securities Identification Numbers.
The commission decided to open formal proceedings against the credit ratings agency after receiving a complaint from several associations that represent investors, including financial institutions and assets managers.
“Allegedly financial institutions are obliged to pay for a service that they are not interested in and do not actually use, i.e. the S&P's ISIN database as...
EU Accuses S&P Of Monopoly Abuse Over ISIN Fees
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