Morningstar plans on trading on the Nasdaq under the symbol "MORN," reports Investors.com, the online edition of Investors Business Daily. The company is also "fully cooperating with staff" regarding an ongoing investigation by the SEC into erroneous filings from 2004.

Morningstar potentially faces fines or other measures following incorrect total return data. Also, both the SEC and New York Attorney General Eliot Spitzer are scrutinizing Morningstar Associates, the company's unit that provides advice and consulting for retirement plans.

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