Oil price reporting agencies' principles won't deter manipulation, say critics

oil drum

In a set of principles for oil price reporting agencies (PRAs) released on October 5, the International Organization of Securities Commissions (Iosco) concluded the entities do not require “precipitous regulation”. But industry critics say the principles don’t go far enough and suggest precipitous regulation might be exactly what the PRAs need. "[The PRA industry] should be regulated, because it's too important not to be," says Liz Bossley, chief executive of the Consilience