Moody's, S&P Global, Fitch Among Major Rating Agencies Hit With $49M SEC Fine Over Record-keeping Failures (UPDATED)
Portfolio Pulse from Benzinga Neuro
The SEC has fined six major rating agencies, including Moody's, S&P Global, and Fitch, a total of $49 million for record-keeping failures. Moody's and S&P Global each face a $20 million penalty, while Fitch will pay $8 million. The agencies are enhancing compliance policies to address these issues.
September 04, 2024 | 11:45 am
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Moody's Corp. has been fined $20 million by the SEC for record-keeping failures. The company is enhancing its compliance policies to address these issues.
The $20 million fine and the need to enhance compliance policies could negatively impact Moody's Corp.'s short-term stock price due to potential investor concerns over regulatory compliance and financial penalties.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
S&P Global has been fined $20 million by the SEC for record-keeping failures. The company is working on improving its compliance policies.
The $20 million fine and the need to enhance compliance policies could negatively impact S&P Global's short-term stock price due to potential investor concerns over regulatory compliance and financial penalties.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90