Defendant Name:
DBRS, Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Morningstar, Inc.
SIC Code:
6282
CUSIP:
61770010
Document Reference:
34-98636
Document Details
Legal Case Name
In the Matter of DRBS. 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
29-Sep-2023
Document Format
Administrative Proceeding
Allegation Type
Other
Document Summary
On September 29, 2023, the SEC instituted settled administrative and cease-and-desist proceedings against DBRS, Inc., stating: "Between July 2019 and November 2022, DBRS had an ineffective internal control
structure governing implementation of and adherence to its published procedures and
methodologies for determining credit ratings for certain commercial mortgage-backed securities
(“CMBS”) multi-borrower transactions."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Monetary Penalties:
Civil Penalty
Individual:
$2,000,000.00
Shared:
