ESMA fines Fitch €5,132,500 for breaches of conflict of interest requirements


Date: 29 March 2019

On 28 March 2019, the European Securities and Markets Authority (ESMA), the supervisor of EU credit rating agencies (CRAs), announced that it has fined three CRAs belonging to the Fitch Group a total of €5,132,500. The fines relate to a series of infringements where the CRAs negligently failed to comply with requirements of the Credit Rating Agencies Regulation (CRAR) related to conflicts of interest that entered into force on 20 June 2013.  

ESMA has also issued supervisory measures against the three CRAs, in the form of public notices.

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