UK business group backs SWF rules

The Confederation of British Industry (CBI), the United Kingdom's largest business association, has said that sovereign wealth funds should be subject to the same code of self regulation that is being proposed for private equity firms.

In its response to the forthcoming Walker Review of private equity rules, which will suggest a voluntary code of conduct for the industry, the CBI said that it believes sovereign wealth funds "should adopt equivalent reporting practices when they make buyout

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