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

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

SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

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 CET

("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
03:49p S&P GLOBAL : Bank Card Default Rate Rises In December 2016 According To S&P/Expe..
01/12 S&P GLOBAL PLATTS : China Steel Sentiment Index Slumps in January
01/12 PLATTS CHINA OIL ANALYTICS : China Apparent Oil Demand Rose 4% Year over Year in..
01/11 S&P GLOBAL : Schedules 4th Quarter and Full-Year 2016 Earnings Announcement/Conf..
01/10 S&P GLOBAL PLATTS : OPEC Output Slumps in December
01/10 S&P DOW JONES INDICES : Reports U.S. Dividend Activity for Q4 2016 and Full-Year..
01/09 S&P GLOBAL : Finalizes Sale of QuantHouse
01/05 CRISIL : roomsXML gets high S&P rating
01/04 S&P GLOBAL : Announces Agreement to Sell QuantHouse
01/04 S&P GLOBAL : U.S. broadcast station deal volume surpassed $104 million in Q4, sl..
More news
Sector news : Professional Information Services - NEC
01/14DJMOODY : Settles Ratings Inquiry -- WSJ
01/04DJEQUIFAX : TransUnion Settle CFPB Claims of Deceptive Marketing
2016DJHot Stocks to Watch in the U.S. and Canada
2016DJIHS MARKIT : Eurozone Economy, Prices Accelerate in Fourth Quarter, Survey Sugge..
2016DJFinance Watch -- WSJ
More sector news : Professional Information Services - NEC
News from SeekingAlpha
2016 McGraw-Hill Companies declares $0.36 dividend
2016 McGraw Hill Financial (MHFI) Doug L. Peterson on Q1 2016 Results - Earnings C..
2016 McGraw-Hill Financial higher after earnings beat
2016 McGraw-Hill Companies beats by $0.05, misses on revenue
2016 Notable earnings before Tuesday?s open
Advertisement
Financials ($)
Sales 2016 5 596 M
EBIT 2016 2 352 M
Net income 2016 1 706 M
Debt 2016 1 553 M
Yield 2016 1,28%
P/E ratio 2016 15,96
P/E ratio 2017 19,78
EV / Sales 2016 5,48x
EV / Sales 2017 5,41x
Capitalization 29 128 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 19%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Douglas L. Peterson President, Chief Executive Officer & Director
Charles Edgar Haldeman Non-Executive Chairman
Ewout L. Steenbergen Chief Financial Officer & Executive Vice President
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%29 128
RELX PLC1.04%36 282
RELX NV-1.50%36 239
THOMSON REUTERS CORP0.03%32 621
S&P GLOBAL INC4.54%29 128
EQUIFAX INC.1.76%14 408
More Results