EU threatens action against credit rating agencies

The European Securities and Markets Authority (ESMA) published results of an investigation into how Moody's, Standard & Poor's and Fitch compiled ratings on sovereign bonds between February and October 2013.

The "Big Three" agencies that rate European Union government debt could be fined after failing to fix poor practices from the past, the sector's regulator said.

ESO: Background information: Stricter rules for credit rating agencies to enter into force http://www.europeansources.info/record/press-release-stricter-rules-for-credit-rating-agencies-to-enter-into-force/

ESO: Background information: Esma probes agencies’ views on banks http://www.europeansources.info/record/esma-probes-agencies-views-on-banks/

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