Esma wants to toughen its supervision of credit rating agencies operating in Europe

Former City editor

Europe's top markets watchdog has fined the UK and German arms of one of the world's biggest rating agencies €1.24m for failing to adhere to the correct ratings protocol.

The European Securities and Markets Authority said in a statement that it had fined Moody’s Deutschland €750,000 and Moody’s Investors Service, or Moody's UK,  €490,000 for breaches of Europe's credit rating agencies regulation.

Moody’s fined €1.2m for credit rating breaches

Lucy McNulty

Moody's

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