ESMA Chief Says Rating Companies Subject to EU Laws, FTD Reports

European Securities and Markets Authority Chief Steven Maijoor said U.S. credit-ratings companies won’t get a license for the European Union unless they abide by the bloc’s rules, Financial Times Deutschland reported, citing an interview.

ESMA will become the EU’s single credit-ratings firm regulator in July, the newspaper said. The U.S. and the EU are currently in dispute over supervisory powers over Standard & Poor’s, Moody’s Investors Service and Fitch Ratings, which share 95 percent of the market, according to FTD.