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 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 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
12/02 S&P GLOBAL : Minister Noonan Welcomes S&P's Continued Endorsement of Economic Pr..
12/02 S&P GLOBAL : National Bank Holdings and New Media Investment Group Set to Join t..
11/30DJLegg Mason, Owens-Illinois to Leave S&P 500
11/30 S&P GLOBAL : Mid-America Apartment Communities, AmSurg to Join S&P 500; Others t..
11/29 S&P GLOBAL : The S&P CoreLogic Case-Shiller National Index Reaches New High As H..
11/28 S&P 500 ANALYST MOVES : Spgi
11/23 S&P GLOBAL : Littelfuse Set to Join the S&P MidCap 400; Insteel Industries to Jo..
11/23 S&P GLOBAL INC : ex-dividend day
11/22 S&P GLOBAL : WST Capital Management featured by S&P Dow Jones Indices
11/22 S&P GLOBAL : TOCOM and S&P Global Platts Sign Memorandum of Understanding
More news
Sector news : Professional Information Services - NEC
12/02 Trump creates business advisory council stacked with CEOs
11/30DJEQUIFAX : Delinquencies Rise on Growing Volume of Subprime Auto Loans - Update
11/30DJOil Surges on OPEC Deal to Cut Output
11/10DJTrump's Nafta Plan Would Confront Globalized Auto -2-
11/10DJTrump's Nafta Plan Would Confront Globalized Auto Industry
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 5 577 M
EBIT 2016 2 351 M
Net income 2016 1 799 M
Debt 2016 1 588 M
Yield 2016 1,24%
P/E ratio 2016 16,41
P/E ratio 2017 20,25
EV / Sales 2016 5,66x
EV / Sales 2017 5,53x
Capitalization 29 975 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 135 $
Spread / Average Target 17%
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%29 975
RELX NV-3.76%35 279
RELX PLC11.70%34 976
THOMSON REUTERS CORP11.15%31 804
S&P GLOBAL INC17.93%29 975
EQUIFAX INC.0.15%13 656
More Results