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James Langton Indexing giant S&P Dow Jones Indices LLC settled allegations that it violated U.S. securities laws when an undisclosed index feature caused it to publish stale data during highly volatile markets. The U.S. Securities and Exchange Commission (SEC) charged the firm over alleged failures involving a quality control feature of one of its volatility-related indices, the S&P 500 VIX Short Term Futures Index ER. According to the SEC’s order, on Feb. 5, 2018, the VIX spiked by 115% but the index remained static due to an undisclosed “auto hold” feature, which is triggered if an in...

Daily Monitor Monday May 10 2021 A prison warder handcuffs the suspects before leading them away to court holding cells on May 7, 2021. Photo/ Anthony Wesaka Summary Prosecution told court that on October 27, 2016, Weldu while at his Nakumat office with his brother Michael Teagas Okuba Weldmmariam, received a phone call and thereafter, told his sibling that he was heading to the German Embassy in Kololo. Advertisement Two court assessors have advised High Court judge Flavia Senoga Anglin to convict a Uganda People’s Defense Forces (UPDF) officer accused of killing an Eritrean businessman wh...

To embed, copy and paste the code into your website or blog: On February 16, 2021, the Securities and Exchange Commission (“SEC”) filed a civil complaint against Morningstar Credit Ratings LLC (“Morningstar”), a credit rating agency, alleging violations of the disclosure and internal controls provisions of the federal securities laws based on Morningstar’s ratings of commercial mortgage-backed securities (“CMBS”). 1 In bringing this complaint, the SEC stressed the importance of internal controls measures and full disclosure of rating methodologies for credit rating agencies. I. ...

(MENAFN - Newsfile Corp) SEC Charges Ratings Agency With Disclosure And Internal Controls Failures Relating To Undisclosed Model Adjustments Washington, D.C.--(Newsfile Corp. - February 16, 2021) - The Securities and Exchange Commission today filed a civil action alleging that former credit ratings agency Morningstar Credit Ratings LLC violated disclosure and internal controls provisions of the federal securities laws in rating commercial mortgage-backed securities (CMBS). Credit ratings are used by market participants to help evaluate credit risk, price certain securities, and guide the inv...

The Securities and Exchange Commission has filed a civil action against former Morningstar Credit Ratings alleging the credit ratings agency violated disclosure and internal controls provisions of the federal securities laws in rating commercial mortgage-backed securities (CMBS).