Ratings agency fined €1.38 million by Esma for regulatory breaches

Esma's headquarters in Paris

The European Securities and Markets Authority (Esma) has fined credit ratings agency Fitch €1.38 million ($1.51 million), it announced on July 21.The fine dwarfs the two previous financial penalties imposed by Esma on companies.

Esma finds "certain senior analysts in Fitch transmitted upcoming rating actions on sovereign ratings to certain senior persons in a parent company of Fitch before it was made public". The company was named as Fimala.

These actions concerned "actual or potential upcoming

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