June 4, 2020 / 6:24 AM / a month ago

EU watchdog fines Scope Ratings 640,000 euros

LONDON, June 4 (Reuters) - The European Union’s markets watchdog said on Thursday it has fined Scope Ratings 640,000 euros ($717,440) for failings in covered bond ratings.

“In both instances Scope committed the infringements negligently and failed to meet the special care expected from a credit rating agency (CRA) as a professional firm in the financial services sector,” ESMA said in a statement. ($1 = 0.8921 euros) (Reporting by Huw Jones; Editing by Andrew Heavens)

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