EU proposal could blindside oil-price reporting, industry says

06/6/2013 | Reuters

Industry participants say the EU's proposed benchmark rules would run roughshod over oil-price-reporting agencies by imposing big liabilities. The EU plan would put the European Securities and Markets Authority in charge of benchmarks. "This is heavy-handed regulation, and if it's applied as written, it will make oil-price reporting unworkable," a senior oil industry source said.

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