The SEC has charged six credit rating agencies with “significant recordkeeping failures.” If all the credit rating agency’s are corrupt, is there anything that isn’t?

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https://www.sec.gov/newsroom/press-releases/2024-114#:~:text=The%20firms%20admitted%20the%20facts,implementing%20improvements%20to%20their%20compliance

TL;DR:

  • Six credit rating agencies charged by SEC for recordkeeping failures.
  • Firms admit wrongdoing and pay over $49 million in penalties.
  • Moody’s, S&P Global, Fitch, HR Ratings, A.M. Best, and Demotech involved.
  • Most firms required to retain compliance consultants.
  • SEC emphasizes importance of recordkeeping for investor protection.
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h/t welp007