Lack of regulatory clarity hampering PRA code of conduct

IPRO code requires clear rules, say agencies

Price reporting agencies (PRAs) say they are close to releasing another version of an industry code of conduct designed to deflect criticism of their price assessments. However, they warn global efforts to crack down on the regulation of benchmark indexes might further delay the finalisation of the long-awaited document.

In April 2012, New York-based Platts, London-based Argus Media and London-based Icis published an 11-page draft for a voluntary, industry-led code of conduct, while soliciting f