The European Union’s securities market regulator indicated it discovered some shortcomings in how the major rating agencies assess risk to sovereign debt. The European Securities and Markets Authority (ESMA) said its investigations into Fitch, Moody’s and Standard & Poor’s revealed issues in the sovereign rating processes. Big three could be fined In its report, the ESMA pointed out its investigation revealed shortcomings in the sovereign ratings process which could pose risks to the quality, independence and integrity of the ratings and of the rating process. The work was carried out before new European Union regulations came into force last June….
EU Warns Credit Rating Agencies
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports