ESMA fines Modefinance S.r.l. EUR 420,000 for misleadingly using ESMA’s name in statements related to its credit rating activities

News Financial services Sanctions & Fines

Date: 7th Apr, 2025 Source: European Securities and Markets Authority Country: European Union Original Source

Brief

"On 25/04/2023", the "European Securities and Markets Authority" issued an update regarding "ESMA fines Modefinance S.r.l. EUR 420,000 for misleadingly using ESMA’s name in statements related to its credit rating activities". This breach was found to be a result of negligence on the part of Modefinance, with Verena Ross, ESMA's Chair, stating that this could mislead investors and impact EU financial markets' proper functioning.

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European Securities and Markets Authority

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ESMA fines Modefinance S.r.l. EUR 420,000 for misleadingly using ESMA’s name in statements related to its credit rating activities

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ESMA fines Modefinance S.r.l. EUR 420,000 for misleadingly using ESMA’s name in statements related to its credit rating activities

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European Securities and Markets Authority

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