SEC Whacks Moody’s

Moody’s Investors Service will pay $16.25 million in fines to settle charges of internal control failures and failing to clearly define and consistently apply credit rating symbols in residential mortgage-backed securities, the SEC said Tuesday.

WASHINGTON — Moody’s Investors Service will pay $16.25 million in fines to settle charges of internal control failures and failing to clearly define and consistently apply credit rating symbols in residential mortgage-backed securities, the SEC said Tuesday.

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