Fitch fined over de Lacharrière conflict of interest

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Fitch fined over de Lacharrière conflict of interest

Jasper Cox
March 28, 2019 10:15 AM
Lacharriere_PA_230x150
Marc Ladreit de Lacharrière arriving for a state dinner in honors of South Korean President Park Geun Hye at the Elysee Palace in Paris, France, on June 03, 2016. The President of South Korea Geun-hye Park is on a three day state visit to celebrate the 130th anniversary of the diplomatic relations between France and South Korea. Photo by Jacques Witt/Pool/ABACAPRESS.COM | ABACA/ABACA/PA Images

The European Securities and Markets Authority has fined Fitch for conflicts of interest, relating to ratings given to entities where French billionaire businessman Marc Ladreit de Lacharrière sat on the board. The French businessman indirectly owned a stake in the ratings agency.

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