According to GamePolitics.com, PSVratings has recently ceased operations, though its website is still operational. The company, which billed itself as an alternative to existing content ratings systems for games and movies, was apparently shuttered in an unexpected and quick fashion. This is allegedly due to a Securities and Exchange Commission (SEC) fraud investigation.

"PSVratings laid off all employees and suspended operations on May 30, 2006," said PSV CEO David Kinney. "We are fully cooperating with the SEC in their investigation. We are in the process of recapitalizing and I remain active in ensuring that we maintain our leadership position in the independent ratings industry."

PSV has been critical about the current content rating system used by the ESRB, and has clashed with that organization on more than one occasion. PSV has also tried to ally itself with California Governor Schwarzenegger regarding that state's violent game legislation.