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SEC Bars Egan Jones From Rating Key US Bonds

Tuesday, 22 Jan 2013 | 12:26 PM ET

Credit rating firm Egan-Jones and its president Sean Egan agreed to be barred for 18 months from rating asset-backed or government securities to resolve charges they lied on registration forms, regulators announced on Tuesday.

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The U.S. Securities and Exchange Commission announced that it found the firm said it had rated certain securities since 1995 on its registration application, even though the firm had not issued such ratings before filing its application in 2008.

The firm neither admitted nor denied the findings, but agreed to the 18-month bar, the SEC said.

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