SEC’s WhatsApp Probe Expands as Moody’s, S&P Hit With Fines (2)

Moody’s Corp., S&P Global Inc. and Fitch Ratings Inc. will pay a combined $48 million over allegations that the credit-rating companies failed to keep proper electronic communications — the latest fallout from US regulators’ so-called WhatsApp investigations.

The Securities and Exchange Commission said Tuesday that Moody’s and S&P will each pay $20 million to settle the cases, while Fitch will pay $8 million. The firms acknowledged violating the agency’s recordkeeping rules and will retain a compliance consultant, the SEC said in a statement.

The fines add to the billions of dollars that big banks previously agreed to pay the ...