Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  McGraw Hill Financial Inc    MHFI

SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

The McGraw-Hill Companies, Inc. : UPDATE : Oil Price Reporting Agencies Propose Regulatory Code

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/30/2012 | 10:32pm CEST

("UPDATE: Oil Price Reporting Agencies Propose Regulatory Code," at 2:57 p.m. EDT, misstated function the agencies are responsible for in the second paragraph. The correct version follows:)

--Top oil price reporting agencies propose code to provide for self-regulation

--Proposal follows IOSCO consultation on regulation of PRAs

--PRAs seeking feedback from the industry on the draft code

 
   By Sarah Kent 
   Of  
 

Three of the world's top oil price reporting agencies Monday laid out a proposal for a price reporting code designed to provide the industry with a more robust framework of regulation, even as it comes under increasing scrutiny by international regulators.

Between them, Platts, Argus Media Group, and ICIS are responsible for assessing the price of many of the world's main oil and oil product benchmarks, but are subject to virtually no external regulation.

Since the financial crisis in 2008, however, the call for greater oversight of these agencies has increased.

The Group of 20 industrial and developing nations last year asked the International Organization of Securities Commissions to examine the role of price reporting agencies, or PRAs, and prepare recommendations to improve their functioning and oversight by the middle of this year.

The launch of the draft code follows a 30-day consultancy in March by IOSCO on the potential need for closer oversight of oil PRAs, though the agencies say they began working on it late last year.

"We're not aware of any evidence that the current system of price reporting is broken or that the benefits of reforming the system would outweigh the cost of change," said Larry Neal, president of McGraw Hill Cos.-owned (MHP) Platts.

"That being said, we view ourselves as always striving to improve and we believe that the code we're putting out in draft form is really the best way to balance proper disclosure with editorial independence," he added.

The agencies said their proposed code provides for "robust monitoring and compliance."

In its current form, the code would require the Chief Executive of all signatories to annually sign a statement of compliance and also provide for periodical external audits.

"The code is designed to demonstrate and ensure that all signatories meet the high standards and principles of good governance required to effectively serve the markets and customers," the companies said in a joint press statement.

The agencies are concerned that tighter regulation could impose restrictions on the methodology they use for price assessment, which they argue must be flexible to cater to a constantly developing market. They also worry that stricter oversight could discourage some market participants from providing them with information vital to accurate price reporting.

"Clearly there's a lot of concern over the financial markets following what happened in 2008 and clearly there's going to be some scrutiny, but the physical oil market is very different to the financial markets," said Adrian Binks, Argus Media chairman and chief executive. "This puts into a code a lot of the best practices that we have already developed," he added.

The agencies are now seeking feedback from the industry and regulators.

-By Sarah Kent, Dow Jones Newswires; 4420-7842-9376; sarah.kent@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on MCGRAW HILL FINANCIAL INC
09/22 S&P GLOBAL INC. : Entry into a Material Definitive Agreement, Creation of a Dire..
09/22 S&P GLOBAL : ‘Risks remain for EMEA emerging market banks’
09/22 S&P GLOBAL : sees oil prices recovering to just $55/b by 2019 as industry costs ..
09/21 RISKS REMAIN HIGH FOR SEVERAL EMEA E : S&p
09/20 NK LUKOIL : Lukoil moved up to sixth place in platts global top energy companies..
09/20 S&P GLOBAL : Consumer Credit Defaults Up Slightly According To The S&P/Experian ..
09/20 S&P GLOBAL PLATTS : to Launch Fujairah oil products Price Assessments
09/19 S&P GLOBAL : Cirrus Logic Set to Join the S&P MidCap 400; Amphastar Pharmaceutic..
09/19 S&P GLOBAL : Announces Pricing of Senior Notes
09/19 S&P GLOBAL INC. : Other Events, Financial Statements and Exhibits (form 8-K)
More news
Sector news : Professional Information Services - NEC
09/23DJIHS MARKIT : French Revival Fuels Eurozone as Germany Falters--2nd Update
09/23DJIHS MARKIT : French Revival Fuels Eurozone as Germany Falters
09/23DJIHS MARKIT : French Revival Fuels Eurozone as Germany Falters
09/20 Britain's May meets Goldman, Amazon, IBM to discuss post-Brexit investment
09/15DJInforma Builds US, Exhibitions Business With GBP1.2 Billion Penton Purchase -..
More sector news : Professional Information Services - NEC
News from SeekingAlpha
04/27 McGraw-Hill Companies declares $0.36 dividend
04/26 McGraw Hill Financial (MHFI) Doug L. Peterson on Q1 2016 Results - Earnings C..
04/26 McGraw-Hill Financial higher after earnings beat
04/26 McGraw-Hill Companies beats by $0.05, misses on revenue
04/25 Notable earnings before Tuesday?s open
Advertisement
Financials ($)
Sales 2016 5 599 M
EBIT 2016 2 325 M
Net income 2016 1 345 M
Debt 2016 1 898 M
Yield 2016 1,15%
P/E ratio 2016 24,92
P/E ratio 2017 21,83
EV / Sales 2016 6,23x
EV / Sales 2017 5,98x
Capitalization 32 995 M
More Financials
Chart MCGRAW HILL FINANCIAL INC
Duration : Period :
McGraw Hill Financial Inc Technical Analysis Chart | MHFI | US5806451093 | 4-Traders
Full-screen chart
Income Statement Evolution
More Financials
Consensus 
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 134 $
Spread / Average Target 7,5%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Doug L. Peterson President, Chief Executive Officer & Director
Charles Edgar Haldeman Non-Executive Chairman
Robert J. MacKay Controller, Chief Financial & Accounting Officer
Krishna Nathan Chief Information Officer
Winfried Franz Wilhelm Bischoff Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
MCGRAW HILL FINANCIAL ..8.39%32 995
RELX PLC22.31%39 461
RELX NV2.38%39 197
S&P GLOBAL INC26.78%32 995
THOMSON REUTERS CORP5.26%30 836
EQUIFAX INC.18.64%15 768
More Results