SEC v. DBRS Limited
raw: ORDER GRANTING REGISTRATION OF DBRS LIMITED AS A NATIONALLY
DBRS Limited was granted registration as a Nationally Recognized Statistical Rating Organization (NRSRO) by the SEC on September 24, 2007, after its application was found compliant with Section 15E of the Securities Exchange Act of 1934, with no fraud, charges, or financial penalties involved.
On September 24, 2007, the U.S. Securities and Exchange Commission (SEC) granted DBRS Limited registration as a Nationally Recognized Statistical Rating Organization (NRSRO) under Section 15E of the Securities Exchange Act of 1934. The SEC determined that DBRS’s application met all statutory and regulatory requirements, including Form NRSRO and the disclosures mandated by Rule 17g-1. No allegations of misconduct, financial penalties, or legal charges were raised, as this was a routine administrative approval for credit rating agency accreditation.
On September 24, 2007, the U.S. Securities and Exchange Commission (SEC) issued an order granting DBRS Limited registration as a Nationally Recognized Statistical Rating Organization (NRSRO) under Section 15E of the Securities Exchange Act of 1934. DBRS had submitted an application seeking recognition for credit ratings in the classes specified under clauses (i) through (v) of Section 3(a)(62)(B) of the Act. The SEC reviewed the application and found it fully compliant with all required forms, including Form NRSRO and Rule 17g-1, and containing all necessary disclosures under Section 15E(a)(1)(B). There were no allegations of fraud, misconduct, or financial impropriety associated with the application or DBRS’s operations at the time. The action was purely administrative and regulatory, intended to formally recognize DBRS as an accredited credit rating agency under U.S. securities law. No monetary penalties, sanctions, or legal charges were imposed, as the proceeding did not involve enforcement or litigation. The outcome marked DBRS’s official entry into the U.S. market as a registered NRSRO, enabling it to issue credit ratings relied upon by investors and regulators.
Extracted insights
- company dbrs limited
- DBRS Limited furnished application for registration as a nationally recognized statistical rating organization
- Commission finds application furnished by DBRS Limited is in the form required by Exchange Act Section 15E
- Commission finds requirements of Section 15E of the Exchange Act are satisfied
- Commission grants registration of DBRS Limited as an NRSRO
UNITED STATES OF AMERICA
BEFORE THE
SECURITES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 34-56508/September 24, 2007
ORDER GRANTING REGISTRATION OF DBRS LIMITED AS A NATIONALLY
RECOGNIZED STATISTICAL RATING ORGANIZATION
DBRS Limited, a credit rating agency, furnished to the Securities and Exchange
Commission (“Commission”) an application for registration as a nationally recognized
statistical rating organization (“NRSRO”) under Section 15E of the Securities Exchange
Act of 1934 (“Exchange Act”) for the classes of credit ratings described in clauses (i)
through (v) of Section 3(a)(62)(B) of the Exchange Act. The Commission finds that the
application furnished by DBRS Limited is in the form required by Exchange Act Section
15E, Exchange Act Rule 17g-1 (17 CFR 240.17g-1), and Form NRSRO (17 CFR
249b.300) and contains the information described in subparagraph (B) of Section
15E(a)(1) of the Exchange Act.
Based on the application, the Commission finds that the requirements of Section
15E of the Exchange Act are satisfied.
Accordingly,
IT IS ORDERED, under paragraph (a)(2)(A) of Section 15E of the Exchange Act,
that the registration of DBRS Limited with the Commission as an NRSRO under Section
15E of the Exchange Act for the classes of credit ratings described in clauses (i) through
(v) of Section 3(a)(62)(B) of the Exchange Act is granted.
By the Commission.
Nancy M. Morris
Secretary