Reported about 1 month ago
The U.S. Securities and Exchange Commission (SEC) announced that six credit rating agencies will collectively pay over $49 million due to violations of recordkeeping regulations. Agencies including Moody's, S&P, and Fitch admitted to serious failures in maintaining electronic communications. Moody's and S&P will pay $20 million each, while Fitch will pay $8 million among others. This crackdown is part of ongoing efforts by the SEC to enforce proper records maintenance among firms, particularly regarding the use of messaging apps.
Source: YAHOO