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Moody's to pay $16 million over flawed credit ratings

Updated : August 29, 2018 09:14 AM IST

The case also involved the first charges brought by the Securities and Exchange Commission involving deficient ratings symbols.
It comes nearly 10 years after the global financial crisis, in which the improper rating of such securities played a starring role.
According to the SEC, Moody's failed to establish and enforce proper internal controls for models used to rate mortgage backed securities between 2010 and 2013.
Moody's to pay $16 million over flawed credit ratings

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