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Morningstar Parries Lawsuit Over Commercial Mortgage Ratings

Morningstar has asked a judge to throw out a Securities and Exchange Commission lawsuit concerning the company’s ratings of commercial mortgage-backed securities. So reports Reuters.

morningstarLawyers for Morningstar argued that federal law protects the ratings firm’s analytical independence.

The SEC’s February complaint alleged that Morningstar ran afoul of disclosure and internal controls rules from 2015 to 2016 when analysts were allowed to make certain modeling adjustments.

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