Regulation

As part of the Live Rice Index’s (LRI) goal of certifying compliance with the International Organisation of Securities Commissions (IOSCO) price reporting agency (PRA) principles, several policy documents are available on this page. These policy documents (covering complaints, corrections, confidential information, the editorial code of conduct, an organisational chart and conflicts of interest) are available to the public to enhance the transparency of the LRI and promote a high standard of LRI content. These documents are in addition to the LRI Methodology Document and several internal policy documents which LRI staff are required to sign, such as Gifts and Entertainment and Whistleblowing. Please click the below links to view these documents.

About IOSCO

IOSCO’s PRA principles were delivered in response to a request from the G20 for greater oversight of price reporting on the global oil derivatives market. The IOSCO Board presented their final report in 2013, emphasising the utilisation of an appropriate Methodology, the supervision of price assessments and training of assessors, the necessity of an audit trail and the avoidance of any conflicts of interest, among other recommendations. While initially purposed for the global oil market, the IOSCO PRA principles have become an aspirational target for all PRAs, especially those involved in energy, metals and agriculture.