The European Securities and Markets Authority fined Fitch Ratings Limited €1.38 million for a number of different breaches of its regulations pertaining to credit rating agencies. Fitch Ratings’ alleged breaches included sharing nonpublic information regarding certain sovereign ratings with senior persons in its parent company before it was made public, and failing to provide a sovereign state 12 hours’ prior notice as required to respond to a proposed credit downgrade before making such downgrade public. The purported breaches apparently occurred in or prior to February 2013.