The SEC denied Egan-Jones Ratings Company’s bid to regain Nationally Recognized Statistical Rating Organization, or NRSRO, status for asset-backed securities and several government debt categories, while the firm said the Aug. 12 decision does not disrupt its other ratings businesses or certifications. The application, filed in January 2026, was rejected after the commission said Egan-Jones submitted conflicting Qualified Institutional Buyer certifications and inaccurately described when it began issuing asset-backed securities, or ABS, ratings, and a separate March 23, 2026 order also raised concerns about whether the firm had the financial and managerial resources needed to preserve ratings integrity. Sean Egan, Chief Executive Officer and co-founder of Egan-Jones, said the firm sought the additional licenses at clients’ request and expects to address the regulator’s concerns. The ruling leaves Egan-Jones outside the ABS and government securities segments it lost in 2013 over material misstatements, but it does not affect its existing NRSRO registrations for financial institutions, insurance companies and corporate issuers, or its NAIC recognition and ESMA and FCA certifications. The case highlights how NRSRO approval functions as a market-access credential because many institutional investors and regulated financial entities rely on ratings in specific asset classes.