US - Morningstar, the fund rating agency that recommends fund lineups for retirement plan sponsors, has received a subpoena from the SEC which is virtually identical to a request for information made by the regulator in February.
Joe Mansueto, chairman and CEO of Morningstar, said: “We have been fully cooperating with the SEC since it began an examination of Morningstar Associates in December of last year.
“In February of 2005, the SEC sent us a request for the voluntary production of documents that is virtually identical to the subpoena we received today.
“We have supplied substantially all of the information previously requested by the SEC. Because today’s subpoena does not contain any new requests, we do not believe the SEC is seeking any additional information through the subpoena.”
Morningstar was also been subpoenaed in May by the Department of Labor, and by Eliot Spitzer, the New York State attorney general in December last year.
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