Environment Agency call in police over plastic prns

23/03/04

Peniston Plastic of Rotherham apparently had their accreditation removed in November 2003 although it would appear that this information did not fall into the public domain until March 2004.

This incident has occured at a time when the EA are investigating the plastics industry in wider terms in relation to the issuing of false prns.

The scale of the problem at this time seems unclear but PRN Brokers are delighted to see that the EA aims to take a strong stand in the face of such activities.

Their seems to be some dubiety about whether or not prns purchased in good faith will remain valid as evidence of compliance or not however there should be further clarification available soon.

There are a number of issues highlighted by this incident which perhaps should be considered more fully in light of these recent events.

Is it possible for the EA to release information relating to the revoking of accreditation in a more urgent fashion. The release of information in November would certainly have prevented trading in Peniston PRN's taking place.

Should traders and brokers not only be subject to some form of accreditation but given the volume of prn's traded through third party agents should the same brokers not also have access to the latest EA information in the way that perhaps compliance schemes do. This would undoubtedly assist all concerned with the self policing of our marketplace.

More to follow ... ...

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