Other

NRSRO Orders and Notices

The Commission orders and notices listed below relate to NRSROs and are organized by category, including the registration of NRSROs and classes of credit ratings and exemptions from and enforcement of the federal securities laws.

Current NRSROs - Registration Orders and Notices

A.M. Best Rating Services, Inc. (formerly known as A.M. Best Company, Inc.)

Order Granting Registration — Release No. 34-56507 (Sept. 24, 2007)
Notice of Effectiveness of Class of Credit Ratings Withdrawal(s) (May 13, 2011)

DBRS, Inc.

Order Granting Registration — Release No. 34-56508 (Sept. 24, 2007)

Demotech, Inc.

Order Granting Registration – Release No. 34-95243 (July 11, 2022)

Egan-Jones Ratings Co.

Order Granting Registration — Release No. 34-57031 (Dec. 21, 2007)
Order Granting Class of Credit Ratings Addition(s) — Release No. 34-59056
(Dec. 4, 2008)

Fitch Ratings, Inc.

Order Granting Registration — Release No. 34-56509 (Sept. 24, 2007)

HR Ratings de México, S.A. de C.V.

Order Granting Registration — Release No. 34-68160 (Nov. 5, 2012)
Order Granting Class of Credit Ratings Addition(s) – Release No. 34-79382 (Nov. 23, 2016)

Japan Credit Rating Agency, Ltd.

Order Granting Registration — Release No. 34-56510 (Sept. 24, 2007)
Notice of Effectiveness of Class of Credit Ratings Withdrawal(s) (Dec. 2, 2010)

Kroll Bond Rating Agency, Inc. (formerly known as Lace Financial Corp.)

Order Granting Registration — Release No. 34-57300 (Feb. 11, 2008)

Moody's Investors Service, Inc.

Order Granting Registration — Release No. 56511 (Sept. 24, 2007)

S&P Global Ratings (formerly known as Standard & Poor’s Ratings Services)

Order Granting Registration — Release No. 34-56513 (Sept. 24, 2007)

Exemption Orders

Japan Credit Rating Agency, Ltd.

Order Granting Temporary Conditional Exemption of Certain 15E(t) Requirements — Release No. 34-75747 (Aug. 20, 2015)
Order Granting Temporary Conditional Exemption of Certain 15E(t) Requirements – Release No. 34-83884 (Aug. 17, 2018)
Order Granting Temporary Conditional Exemption of Certain 15E(t) Requirements – Release No. 34-98590 (Sept. 28, 2023)

Kroll Bond Rating Agency, Inc. (formerly known as Lace Financial Corp.)

Order Granting Temporary Exemption of LACE Financial Corp. from the Conflict of Interest Prohibition in Rule 17a-5(c)(1) – Release No. 34-57301 (Feb. 11, 2008)
Order Granting Temporary Exemption from Rule 17g-5(c)(1) –
Release No. 34-65339 (Sept. 14, 2011)
Order Granting Temporary Exemption from Rule 17g-5(c)(1) –
Release No. 34-71220 (Dec. 31, 2013)
Order Granting Temporary, Limited, and Conditional Exemption from Rule 17g-5(c)(1) – Release No. 34-76129 (Oct. 13, 2015)

Other Exemption Orders

Order Providing NRSROs a Temporary Exemption from the Requirement in Rule 17g-2(d) (Incorporating the Provisions of Rule 17g-2(a)(8)) – Release No. 34-60473 (Aug. 10, 2009)
Order Granting Temporary Conditional Exemption for Nationally Recognized Statistical Rating Organizations from Requirements of Rule 17g-5 – Release No. 34-62120 (May 19, 2010)
Order Extending Temporary Conditional Exemption for Nationally Recognized Statistical Rating Organizations from Requirements Of Rule 17g-5 – Release No. 34-63363 (Nov. 23, 2010)
Order Extending Temporary Conditional Exemption for Nationally Recognized Statistical Rating Organizations From Requirements of Rule 17g-5 – Release No. 34-65765 (Nov. 16, 2011)
Order Extending Temporary Conditional Exemption for Nationally Recognized Statistical Rating Organizations from Requirements Of Rule 17g-5 – Release No. 34-68286 (Nov. 26, 2012)
Order Extending Temporary Conditional Exemption for Nationally Recognized Statistical Rating Organizations from Requirements Of Rule 17g-5 – Release No. 34-73649 (Nov. 19, 2014)
Order Extending Temporary Conditional Exemption for Nationally Recognized Statistical Rating Organizations from Requirements of Rule 17g-5(a)(3) – Release No. 34-76183 (Oct. 16, 2015)
Order Extending Conditional Temporary Exemption for Nationally Recognized Statistical Rating Organizations from Requirements of Rule 17g-5(a)(3) – Release No. 34-82144 (Nov. 22, 2017)
Order Granting an Extension of Time to File Audited Financial Statements of DBRS Ratings Limited in Accordance With Exchange Act Rule 17g-3(a)(1) – Release 34-82787 (Feb. 27, 2018)

Administrative Proceeding Orders

DBRS, Inc.

In the Matter of DBRS, Inc. – Release No. 34-76261 (Oct. 26, 2015)
In the Matter of DBRS, Inc. – Release No. 34-92952 (Sept. 13, 2021)
In the Matter of DBRS, Inc. – Release No. 34-98636 (Sept. 29, 2023)
In the Matter of DBRS, Inc. – Release No. 34-98638 (Sept. 29, 2023)

Egan-Jones Ratings Co.

In the Matter of Egan-Jones Ratings Company and Sean Egan – Release No. 34-66854 (Apr. 24, 2012)
In the Matter of Egan-Jones Ratings Company and Sean Egan – Release No. 34-68703 (Jan. 22, 2013)
In the Matter of Egan-Jones Ratings Company – Release No. 34-83610 (July 9, 2018)
In the Matter of Egan-Jones Ratings Company – Release No. 34-84530 (Nov. 2, 2018)
In the Matter of Egan-Jones Rating Company and Sean Egan – Release No. 34-95127 (June 21, 2022)

Kroll Bond Rating Agency, Inc. (formerly known as Lace Financial Corp.)

In the Matter of LACE Financial Corp. and Barron Putnam – Release No. 34-62834
(Sept. 2, 2010)
In the Matter of Damyon Mouzon – Release No. 34-62835 (Sept. 2, 2010)
In the Matter of Damyon Mouzon – Release No. 34-63280 (Nov. 9, 2010)
In the Matter of Kroll Bond Rating Agency, LLC – Release No. 34-90036 (Sept. 29, 2020)
In the Matter of Kroll Bond Rating Agency, LLC – Release No. 34-90037 (Sept. 29, 2020)
In the Matter of Kroll Bond Rating Agency, LLC – Release No. 34-98654 (Sept. 29, 2023)

Moody's Investors Service, Inc.

In the Matter of Moody's Investors Services, Inc. – Release No. 34-83965 (Aug. 28, 2018)
In the Matter of Moody's Investors Services, Inc. – Release No. 34-83966 (Aug. 28, 2018)

S&P Global Ratings (formerly known as Standard & Poor’s Ratings Services)

In the Matter of Standard & Poor's Ratings Services – Release No. 34-74103
(Jan. 21, 2015)
In the Matter of Standard & Poor's Ratings Services – Release No. 33-9705 (Jan. 21, 2015)
In the Matter of Standard & Poor’s Ratings Services – Release No. 33-9704
(Jan. 21, 2015)
In the Matter of Francis Parisi – Release No. 33-10050 (Mar. 7, 2016)
In the Matter of Barbara Duka – Release No. 34-84923 (Dec. 21, 2018)
In the Matter of S&P Global Ratings – Release No. 34-96308 (Nov. 14, 2022)

Previously Registered NRSROs - Orders and Notices

Morningstar Credit Ratings, LLC (formerly known as Realpoint LLC and formerly a credit rating affiliate of DBRS, Inc.)

Order Granting Registration — Release No. 34- 58000 (June 23, 2008)
Order Granting Temporary Exemption of Realpoint LLC from the Conflict of Interest Prohibition in Rule 17a-5(c)(1) – Release No. 34-58001 (June 23, 2008)
Order Granting Temporary Exemption from Rule 17g-5(c)(1) –
Release No. 34-66514 (March 5, 2012)
Order Granting Temporary Exemption from Rule 17g-5(c)(1) –
Release No. 34-71219 (Dec. 31, 2013)
Order Granting Temporary, Limited, and Conditional Exemption from Rule 17g-5(c)(1) – Release No. 34-76766 (Dec. 24, 2015)
Order Granting Conditional Exemption from a Requirement in Section 15E(a)(1)(C)(iv) – Release No. 34-78670 (Aug. 24, 2016)
Order Granting Class of Credit Ratings Addition(s) – Release No. 34-78671 (Aug. 24, 2016)
Notice of Effectiveness of Registration Withdrawal (Dec. 30, 2019)
In the Matter of Morningstar Credit Ratings, LLC – Release No. 34-88880 (May 15, 2020)

Rating and Investment Information, Inc.

Order Granting Registration — Release No. 34-56512 (Sept. 24, 2007)
Notice of Effectiveness of Class of Credit Ratings Withdrawal(s) (June 29, 2010)
Notice of Effectiveness of Registration Withdrawal (Nov. 28, 2011)