Esma Wades In: Regulator Targets Rating Agency Fees
Data consumers have long-bemoaned the fees charged by rating agencies, citing prices and a lack of transparency around how fees are set as key concerns. With no response from the agencies to user groups, Esma is now weighing in on the subject. Pauline McCallion reports
In November last year, Paris-based data user group Cossiom (Comité chargé des Services et Systèmes d’Informations destinés aux Opérateurs de Marchés) sent letters to Fitch Solutions and Moody’s Analytics—the data arms of Fitch and Moody’s, respectively—outlining its members’ concerns about fees and data policies, and asking for greater transparency relating to changing fees and commercial models. It also proposed arranging a “constructive discussion” with these organizations so that Cossiom
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