European Regulator fines Scandinavian Banks for €2.5m for unauthorised Credit Ratings
The European Financial Regulator ESMA (European Securities and Markets Authority) has today fined five Scandinavian banks for violations of the Credit Rating Agencies Regulation (CRAR). Each of the five banks was fined €495,000 and received a public notice for negligently breaching the CRAR by by issuing credit ratings without being authorised by ESMA to do …
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