Defendant Name:
Morningstar Credit Ratings, LLC
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Morningstar, Inc.
SIC Code:
6282
CUSIP:
61770010
Document Reference:
34-88880
Document Details
Legal Case Name
In the Matter of Morningstar Credit Ratings, LLC
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 15E(d) and 21C of the Securities and Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
15-May-2020
Document Format
Administrative Proceeding
Allegation Type
Other
Document Summary
On May 15, 2020, the SEC instituted settled cease-and-desist proceedings against Morningstar Credit Ratings, LLC ("MCR"). The SEC stated: "MCR violated Exchange Act Rule 17g-5(c)(8)(i), a conflict of interest rule, by issuing or maintaining credit ratings where MCR employees who participated in determining or monitoring the credit ratings also participated in the sales or marketing of a product or service of MCR."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Other Compliance Related Undertaking
Monetary Penalties:
Civil Penalty
Individual:
$3,500,000.00
Shared: