The French financial regulator wants to strengthen the European Commission’s proposals for regulating credit rating agencies to give more power to a pan-European supervisor, according to its new chairman.

Jean-Pierre Jouyet, who took over the Autorité des Marchés Financiers (AMF) from Michel Prada last month, told the FT that the power to co-ordinate rating agency supervision at the Committee of European Securities Regulators was necessary to ensure regulatory standards were maintained in every country.