* Price reporting agencies adhering to IOSCO principles 
    * No more annual reviews needed - IOSCO 
    * But monitoring of price agencies to continue 
 
    By Lisa Barrington 
    LONDON, Sept 17 (Reuters) - The oil market's price-setting 
agencies will not need to have their compliance with 
industry-agreed reporting standards reviewed for the foreseeable 
future, international regulators said on Thursday.  
    The International Organization of Securities Commissions 
(IOSCO) decided that price reporting agencies (PRAs) were 
adhering to industry guidelines published in 2012. 
    "IOSCO, IEA, IEF and OPEC do not believe that further annual 
implementation reviews will be necessary at this time," the 
regulator said, referring to the International Energy Agency, 
the International Energy Forum, and the Organization of the 
Petroleum Exporting Countries. 
    However, the activities of PRAs will continue to be 
monitored, IOSCO said.  
    IOSCO's Principles for Oil Price Reporting Agencies were 
written after a request in 2011 from the Group of 20 (G20) top 
economies, under pressure to curb speculation blamed for huge 
swings in the oil market, to look at the role of PRAs. 
    The principles cover a number of areas including internal 
quality control, conflict of interest and complaints processes. 
    In last year's review, IOSCO said it had no plan to further 
align guidelines for oil PRAs with those for financial market 
benchmarks.  ID:nL5N0RA2VI     
    The leading oil pricing agencies are Platts, a unit of 
McGraw-Hill  MHFI.N ; ICIS, part of RELX  REL.L , formerly 
called Reed Elsevier; privately held Argus Media and privately 
held OPIS Oil Price Information Service. They produce price 
assessments based on deals, bids and offers in opaque physical 
markets.     
    Thomson Reuters  TRI.TO , the parent of Reuters news, 
competes with Platts, Argus, ICIS and OPIS in providing news and 
information to the oil markets. 
 
 (Editing by Dale Hudson) 
 ((lisa.barrington@thomsonreuters.com; +44 207 542 1008)) 
 
Keywords: OIL REGULATIONS/