The charges center around statements made when Egan-Jones applied in 2008 to become a
Also named was president
EJR and Egan also were charged with material misrepresentations in other submissions and violations of record-keeping and conflict-of-interest provisions governing NRSROs.
“EJR further falsely stated in its 2008 application that it had been issuing credit ratings in the ABS and government categories as a credit rating agency on a continuous basis since 1995. In fact, at the time of its
Jones, in discussing the case with
Egan-Jones prides itself on taking no compensation of any type from the issuers of debt or other securities and providing unbiased ratings, as a result.
It says on its web site:
Our unbiased, rules-based methodology and corporate credit ratings with zero issuer influence on approximately 1,000 very widely held IG, Crossover and HY corporations assist clients minimize portfolio risk and exploit unrecognized opportunity.
And Jones told
Lawyers for Egan-Jones have previously said they plan to contest the
In 2008, Egan appeared before
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