EU Watchdog Fines Moody's €3.7M For Conflicts Of Interest
Law360, London (March 30, 2021, 11:01 AM BST) -- Europe's markets regulator said on Tuesday that it has fined ratings giant Moody's €3.7 million ($4.3 million) for acting negligently and breaching rules on conflicts of interest when handing out ratings.
Five entities of Moody's were collectively handed a penalty for breaches of the credit ratings agencies regulation, Europe's markets watchdog has said. (AP Photo/Mark Lennihan) The European Securities and Markets Authority said that five entities of Moody's were collectively handed the penalty for breaches of the credit ratings agencies regulation. The ratings agency breached rules on independence and avoiding conflicts of interest between it and the companies it assesses....
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