ESMA Chair Steven Maijoor has published the Authority's supervisory priorities for 2016 outlining an intention to focus on quality supervision. Priorities will be to focus on CRA governance, fees charged and information security for all supervised entities, strategy and the quality of credit ratings and the quality and access to trade repository data. ESMA at the same time published its 2015 Annual Supervisory Review outlining work achieved in these areas which included an enforcement case where a €30,000 fine was imposed investigation of the techniques applied by CRAs in validating credit rating methodologies.