EU plans to propose a voluntary code of conduct regarding transparency & governance

The Financial Times reports that, “The world’s sovereign wealth funds will be asked to accept a voluntary code of conduct governing their investment activities under proposals poised for approval next week by the European Commission. Peter Mandelson, the European trade commissioner, said the code would set out basic standards of governance and transparency for the funds.”

This sets the tone for a voluntary code rather than a statutory code. Question is how will the EU get the SWFs to adopt the code?


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