Overview
- Moody's and S&P Global each face $20 million fines, while Fitch is fined $8 million.
- HR Ratings de México, A. M. Best, and Demotech also penalized with smaller fines.
- Agencies admitted to using personal devices for work communications, violating SEC rules.
- Firms are required to enhance compliance policies and review electronic communication retention.
- The SEC emphasizes the importance of record-keeping for investor protection and regulatory enforcement.