Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
Back to profile5 entries
2022
CSRC enforcement over Shandong Shengtong ratings
The CSRC found deficiencies in due diligence, verification, prudent analysis, and internal audits connected with ratings issued for Shandong Shengtong Group between 2015 and 2018.
2021
Regulatory findings on rating procedures and independence
Chinese regulators identified deficiencies involving rating procedures, independence, practitioner filings, model consistency, due diligence, fieldwork, and quality control, resulting in warnings, fines, and orders for comprehensive remediation.
2021
Administrative Penalty for Failure of Due Diligence and False Records in Shengtong Bond Ratings
In 2021, the China Securities Regulatory Commission determined that Dagong Global Credit Rating failed to verify materials and that its reports contained false records in the ratings of bonds related to Shandong Shengtong, and imposed an administrative penalty. This entry concerns enforcement action on a specific rating project, distinct from the 2018 independence incident, and corrects the original record's year for this penalty, which was mistakenly given as 2022.
2018
Suspension amid corruption and doctored-rating allegations
Dagong's operations were suspended after accusations that corruption and manipulated ratings were connected with fee payments. The episode led to a rectification process and preceded the acquisition of majority control by China Reform Holdings.
2018
Independence Compromised by High-Fee Consulting Alongside Ratings; Business Suspended for One Year
In 2018, regulators found that Dagong Global Credit Rating provided high-fee consulting services to the issuers it rated, alongside problems with internal controls and personnel qualifications. The China Securities Regulatory Commission and the National Association of Financial Market Institutional Investors suspended the relevant rating business for one year. This entry fills in the specific issues and sources missing from the original record.