Markets tribunal overturns ratings agency Moody’s request for privacy in appeal against a fine imposed for issuing a ‘red flags’ report on Chinese companies in July 2011

http://www.scmp.com/print/business/banking-finance/article/1672837/moodys-denied-privacy-appeal-against-sfc

Moody’s denied privacy in appeal against SFC

Friday, 02 January, 2015, 3:50am

Enoch Yiu enoch.yiu@scmp.com

Markets tribunal overturns ratings agency’s request for privacy in appeal against a fine imposed for issuing a ‘red flags’ report

A markets tribunal has overturned a request by Moody’s Investors Service for privacy in its appeal against the Securities and Futures Commission’s decision to fine the ratings agency HK$23 million.

The commission had fined Moody’s HK$23 million and publicly reprimanded the agency for breaching the code of conduct by issuing a “red flags” report on Chinese companies in July 2011. Continue reading

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