On 28 March 2019, the European Securities and Markets Authority (ESMA), the supervisor of EU credit rating agencies (CRAs), announced that it has fined three CRAs belonging to the Fitch Group a total of €5,132,500. The fines relate to a series of infringements where the CRAs negligently failed to comply with requirements of the Credit Rating Agencies Regulation (CRAR) related to conflicts of interest that entered into force on 20 June 2013.