Reuters: Regulatory News: Egan-Jones says faces SEC enforcement case

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Egan-Jones says faces SEC enforcement case Apr 19th 2012, 20:55 WASHINGTON, April 19 | Thu Apr 19, 2012 4:55pm EDT WASHINGTON, April 19 (Reuters) - Ratings firm Egan-Jones said on Thursday that U.S. securities regulators have chosen to bring an enforcement case against the company related to a four-year-old application process. The company said in a statement that it intends to vigorously defend itself against the Securities and Exchange Commission's claims. People familiar with the matter said earlier that the SEC's case is related to alleged misstatements the firm made in its 2008 regulatory application to rate two classes of securities - asset-backed securities and sovereign debt. Alan Futerfas, counsel to Egan-Jones, told Reuters that the SEC did not indicate what relief it is seeking as part of the enforcement action, which has yet to be formally filed.

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