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SEC Sues Over Commercial Mortgage-Backed Securities Ratings

The Securities and Exchange Commission has filed a complaint against Morningstar’s credit ratings business for alleged securities violations in its ratings of commercial mortgage-backed securities. So reports Reuters.

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The SEC said the alleged violations involved disclosure and internal controls rules for 30 commercial mortgage-backed securities transactions from 2015 to 2016.

A Morningstar representative said the company had followed all regulations and had voluntarily ended the methods subject to the lawsuit three years ago.

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