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The European Securities and Markets Authority (ESMA), the supervisor of EU credit rating agencies (CRAs), has fined three CRAs belonging to the Fitch Group a total of €5,132,500.
On 11 July 2018, ESMA decided to fine the five banks for negligently infringing the CRAR by issuing credit ratings without being registered.
ESMA currently directly supervises eight TRs and 27 CRAs. It also carries responsibility for four certified CRAs and 32 TC-CCPs.
The withdrawal decisions follow the official notification to ESMA by S&P on 21 November 2018 of its intention to renounce the two registrations under the conditions set out in Arti...
ESMA has published the responses
Fünf nordeuropäische Banken wurden von der ESMA, aufgrund eines Verstoßes gegen die Credit Rating Agency Regulation (CRAR), zu jeweils 495.000 € Strafe verurteilt.
This consultation follows on from the updated Guidelines on endorsement (November 2017), and comes in response to requests from the industry.
ESMA will periodically review these Q&As and update them where required.