Credit ratings agency Egan-Jones and the firm’s founder Sean Egan are expected to face charges for allegedly making material and intentional misstatements in its application to US securities regulators. The charge refers to information in rating sovereign debt and asset-backed securities in 2008.

The civil action filed by the SEC concerns Egan-Jones’ conflict of interest policy issues, as well as misleading the regulator over its finances, internal proceedings, its rating and the adequacy of its records and book-keeping.

Egan-Jones said it plans to vigorously defend itself against the SEC claims.

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