IOSCO consults on oil price reporting agency oversight-continued

MArch 1, 2012--The Technical Committee of the International Organization of Securities Commissions (IOSCO) has published a consultation report, Functioning and Oversight of Oil Price Reporting Agencies, which examines the role played by Oil Price Reporting Agencies (PRAs) in the functioning of oil markets, their methods of operation and governance and potential options for future oversight.
The Consultation Report is aimed at informing IOSCO’s response to the G20 Leaders’ request in November 2011 that “IOSCO, in collaboration with the IEF, the IEA and OPEC, [to] prepare recommendations to improve their functioning and oversight to our Finance Ministers by mid-2012.”

The report builds on the joint report on Oil Reporting Agencies jointly produced by IOSCO, IEA, IEF and OPEC (IOs Report) which was submitted to G20 in advance of the Cannes summit.

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Source: IOSCO

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