Defendant Name: DBRS, Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Morningstar, Inc.
SIC Code: 6282
CUSIP: 61770010

Initial Case Details

Legal Case Name In the Matter of DBRS, Inc.
First Document Date 13-Sep-2021
Initial Filing Format Administrative Action
File Number 3-20542
Allegation Type Other

Violations Alleged

Rule 17g-8(b)(1) Exchange Act


First Resolution Date 13-Sep-2021
Headline Total Penalty and Disgorgement

See Related Documents

Related Documents:

34-92952 13-Sep-2021 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 15E(d) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On September 13, 2021, the SEC instituted settled administrative and cease-and-desist proceedings against DBRS. Inc. stating "This matter concerns DBRS’s failure to establish, maintain, enforce, and document policies and procedures reasonably designed to assess the probability that an issuer of collateralized loan obligation (“CLO”) combination notes (“Combo Notes”) will default, fail to make timely payments, or otherwise not make payments to investors in accordance with the terms of the security, as required by Rule 17g-8(b)(1) of the Exchange Act."
34-92952-s 13-Sep-2021 Administrative Summary
SEC Charges Ratings Agency with Failures in Connection with Ratings of CLO Combo Notes
The SEC stated that: " credit ratings agency DBRS, Inc., which is registered with the Commission as a nationally recognized statistical rating organization (NRSRO) and currently operates under the trade name DBRS Morningstar, has agreed to pay $1 million to settle charges relating to the rating of collateralized loan obligation combination notes (CLO Combo Notes)."