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As private credit tops $1 trillion, Fed researchers warn bank exposure to the sector could spark systemic risk if defaults spike.
Moody's based this downgrade on the lowering of the rating of the United States government.
"Light demand" for Wednesday's 20-year Treasury bond auction "propelled yields to the nosebleeds and equities to the basement," said José Torres, senior economist at Interactive Brokers.
The fine for violating MSRB rules was imposed as part of a wider FINRA disciplinary action that saw brokerage firm Calton & Associates fined a total of $75,000.
Samantha Funk will step up as new head of public finance at PNC after Rob Dailey retires at the end of July.