Rating agency exodus ramps up as Brexit looms

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By Francesca Young
23 Aug 2018

Banks and funds are being inundated with applications from staff trying to leave the rating agencies, as those firms gear up to relocate staff to Europe to comply with ESMA (European Securities and Markets Authority) guidelines.

Rating agencies have their own regulatory regime that does not allow for the flexibility and varied interpretations of the rules that banks are hoping for after Brexit.

“A lot of the employees of these firms [the rating agencies] are more actively looking for new jobs,” said a ...

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