Defendant Name:
DBRS, Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Morningstar, Inc.
SIC Code:
6282
CUSIP:
61770010
Document Reference:
34-92952
Document Details
Legal Case Name
In the Matter of DBRS, Inc.
Document Name
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
Document Date
13-Sep-2021
Document Format
Administrative Proceeding
Allegation Type
Other
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Other Compliance Related Undertaking
Monetary Penalties:
Civil Penalty
Individual:
$1,000,000.00
Shared:
