ESMA fines five banks €2.48 million for issuing credit ratings without authorisation
CRAs
Date:
26 July 2018
On 23rd July 2018, the European Securities and Markets Authority (ESMA) fined
Danske Bank,
Nordea Bank,
SEB,
Svenska Handelsbanken and
Swedbank €495,000 each and issued
five public notices for negligently breaching the Credit Rating Agencies Regulation (CRAR). ESMA found that the five banks infringed the CRAR by issuing credit ratings without being authorised by ESMA to do so.