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Commodities Briefing - Categorized | Oil, Price Watch, Regulatory more

Strict new EU laws could be the end of oil price reporting

Posted on 10 June 2013

Following the raids on the London office of the lead oil price publisher Platts over suspicions of manipulating oil prices in the market, the European Union has decided to introduce tough new rules that would effectively prevent price reporting agencies from operating.
Bloomberg has stated that the draft law is unlikely to take effect before 2014, but once approved and implemented it will give the job of regulating top benchmarks such as Libor and oil, to the European Securities and Markets Authority (ESMA), based in Paris………………………………………..Full Article: Source


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