Regulation

Esma chief: We need the power for bigger fines

Europe's top securities regulator wants to be able to impose heftier penalties on credit rating agencies and trade repositories

Esma chief: We need the power for bigger fines
Photo: iStockPhoto

Europe's top securities regulator wants the power to impose bigger fines on credit rating agencies and trade repositories.

In a September 26 speech at the European Parliament, Steven Maijoor, chairman of the European Securities and Markets Authority, said the fines currently within the regulator's power to impose were "too low" to combat bad behaviour among the firms it supervises.

WSJ Logo
Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a BillionaireExternal link

Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a Billionaire