SEC Bars Egan-Jones From Rating The US And Other Governments For 18 Months…(What’s That Tell Ya!!)

Tuesday, January 22, 2013
By Paul Martin

by Tyler Durden

It is refreshing to see that the SEC has taken a much needed break from its daily escapades into and is focusing on what is truly important, such as barring outspoken rating agency Egan-Jones from rating the US and other governments. From the SEC: “EJR and Egan made a settlement offer that the Commission determined to accept. Under the settlement, EJR and Egan agreed to be barred for at least 18 months from rating asset-backed and government securities issuers as an NRSRO. EJR and Egan also agreed to correct the deficiencies found by SEC examiners in 2012, and submit a report – signed by Egan under penalty of perjury — detailing steps the firm has taken.” Hopefully the world is no longer insolvent in July of 2014 when this ban runs out.

The Rest…HERE

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