Rate Expectations: SEC Charges Credit Ratings Agency For Undisclosed Adjustments to Ratings
By EsqSocial Corporation 25/02/21
On February 16, 2021, the Securities and Exchange Commission (“SEC”) filed a civil complaint against Morningstar Credit Ratings LLC (“Morningstar”), a credit rating agency, alleging violations of the disclosure and internal controls provisions of the federal securities laws based on Morningstar’s ratings of commercial mortgage-backed securities (“CMBS”). In bringing this complaint, the SEC stressed the importance of internal controls measures and full disclosure of rating methodologies for...
By: Vinson & Elkins LLP