Action against Respondent, a nationally recognized statistical rating organization, in connection with alleged failure to establish, maintain, enforce, and document policies and procedures reasonably designed to clearly define and apply credit rating symbols.  According to the SEC, Respondent’s definition of structured finance securities called “Combo Notes” did not adequately inform investors regarding what the ratings did and did not address. Respondent has agreed to pay a civil penalty of $1,250,000.

SEC Order  

SEC Press Release