The European Securities and Markets Authority (ESMA) has fined Moody's €1.24m for two "negligent" credit ratings breaches.
The regulator has fined Moody's Deutschland GmbH (Moody's Germany) €750,000 and Moody's Investors Service Limited (Moody's UK) €490,000, and issued a public notice, for two negligent breaches of the Credit Rating Agencies Regulation (CRAR). According to the European regulator, the two regional entities negligently committed two infringements of the CRAR regarding their public announcement of certain ratings and their public disclosure of methodologies used to determine those ratings. Moody's: China faces further downgrades unless ballooning credit checked These failures concern nin...
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