27/09/2016 (Agence Europe) – The chairman of the European Securities and Markets Authority (ESMA), Steven Maijoor, told a hearing at the European Parliament on Monday 26 September that the fines that can be imposed on financial ratings agencies which break European legislation are "too low". " ESMA believes that the right way forward would be to calculate fines as a minimum percentage of the turnover" of the rating agency or trade repository, he said. Currently, the law lays down maximum...