One of the diamond industry's leading figures, Martin Rapaport, has issued an industry wide statement calling for stricter standards amongst grading companies. Rapaport is host to the largest diamond trading platform.
Specifically naming EGL for their misleading reports, he has called upon jewellers worldwide to reject suppliers who are selling diamonds that could potentially mislead consumers.
While EGL are using nomenclature based upon GIA's very strict standards, they are certainly not nearly as tough with their grading and are very frequently over grading lower quality diamonds.
This really drums up repeatedly what I always say, you must view the diamond first hand! If all you look at is a piece of paper, then essentially that is all you are buying.
GIA continue with their strict standards which is why they are one of the very few diamond certificates I will accept.
A link to the full article from Rapaport can be found here.