07:46 PM EDT, 08/12/2026 (MT Newswires) -- The Securities and Exchange Commission rejected Egan-Jones Ratings Co.'s application to re-enter the market for grading government debt and asset-backed securities, Bloomberg reported Wednesday.

The report said that Egan-Jones' application contained material inaccuracies, including certifications that were years out of date from what the SEC called qualified institutional buyers.

The regulator said it must reject petitions if a firm lacks adequate resources to consistently produce credit ratings with integrity and comply with statutory standards, according to the report.

An Egan-Jones spokesperson said the firm sought the two additional licenses at the request of clients and expects to address any concerns, the report said.