ESMA amends enforcement decisions for Nordic banks following appeal

The European Securities and Markets Authority (ESMA) has published today amended enforcement decisions regarding Nordea Bank, Svenska Handelsbanken, SEB, and Swedbank following a decision by the Board of Appeal of the European Supervisory Authorities (BoA).

ESMA, in June 2018, fined the five banks €495,000 each and issued five public notices for negligently infringing the Credit Rating Agencies Regulation (CRAR) by issuing credit ratings without being authorised by ESMA to do so. 

Four of the five banks appealed against ESMA’s decisions...