Fitch hit with record ESMA fine for conflict of interest breach

Took place between 2013 and 2018

Anna Fedorova
@FedorovaIW
28 March 2019

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The European Union's markets regulator has fined ratings agency Fitch Ratings a record €5.13m (£4.4m) for breaching rules around avoiding conflicts of interest.

According to Reuters, ESMA said the breach took place between June 2013 and April 2018, when 20% of the ratings agency's subsidiaries in the UK, France and Spain were indirectly owned by the same individual...

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