August 28, 2018 / 2:37 PM / a month ago

Moody's to pay $16.25 mln to settle SEC charges

WASHINGTON, Aug 28 (Reuters) - The U.S. Securities and Exchange Commission (SEC) said on Tuesday that it charged Moody's Investor Service with failing to clearly define and consistently apply credit-rating symbols in a first-ever ratings-related enforcement action by the regulator.

Moody's did not admit or deny the SEC charges but did agree to pay $16.25 million to both settle charges and review its rating symbol policies and controls, the regulator said in a statement. (Reporting by Katanga Johnson Editing by Chizu Nomiyama)

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