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The credit rating agency has agreed to pay $16.25 in penalties to the SEC over allegations that its ratings system had internal control failures.
Moody’s Investors Service Inc. will be paying $16.25 million in penalties to the SEC via two regulatory orders that resolve charges that the credit rating agency had inadequate internal controls that ultimately led to 650 incorrect residential mortgage-backed securities (RMBS) ratings, representing a notional value of more than $49 billion. The Moody’s case “marks the...
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