US SEC charges six credit rating agencies with recordkeeping failures

WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Tuesday charged six credit rating agencies with “significant recordkeeping failures.”

The agencies are Moody’s (NYSE:) Investors Service, S&P Global Ratings, Fitch Ratings, HR Ratings de Mexico, A.M. Best Rating Services and Demotech.

The SEC said the agencies acknowledged that their conduct violated recordkeeping provisions of federal securities laws and agreed to pay combined civil penalties of more than $49 million.