Former CRA Seeks Dismissal Of Securities Claims In Enforcement Action

Mealey's (May 3, 2021, 9:07 AM EDT) -- NEW YORK — A former credit rating agency (CRA) asked a federal judge in New York on April 16 to dismiss federal securities law claims brought against it by the Securities and Exchange Commission, arguing that the SEC’s allegations regarding the CRA’s methodology used to rate commercial mortgage-backed securities (CMBS) and the CRA’s alleged lack of adequate internal controls are not sufficient to state a claim for relief....