Breaking news! The US Securities and Exchange Commission (SEC) has taken action! On September 3rd local time, six rating agencies including Moody's, S&P Global, and Fitch Ratings were fined over $49 million by the SEC. Among them, Moody's and S&P were fined $20 million globally, and Fitch Ratings was fined $8 million. Prior to this, dozens of financial institutions in the United States had already been fined. Why would the SEC take action against these companies?