The ESMA, the EU's markets watchdog, finds several shortcomings in the "Big 3" ratings agencies...

|By:, SA News Editor

The ESMA, the EU's markets watchdog, finds several shortcomings in the "Big 3" ratings agencies during an examination of Moody's (MCO), S&P (MHP) and Fitch (FMLCF.PK), including a lack of transparency, and sets out areas for improvement. The ESMA hasn't yet determined whether the agencies have broken any rules.