SEC faults rating firms for rule lapses, lax cybersecurity — Dow Jones Newswires

In two annual SEC staff reports based on reviews of the 10 credit-rating firms registered with the agency, it said the industry’s largest players lacked sufficient internal systems to prevent the “misuse or inappropriate dissemination” of sensitive or restricted information about the firms and entities they rate. But the agency said rating firms have added compliance resources as well as boosted their overall documentation practices and the oversight role of their boards of directors.

via SEC faults rating firms for rule lapses, lax cybersecurity — Dow Jones Newswires