Sir Mike Rake has been given the high-profile task of policing the new code of conduct for private equity firms that will be released by Sir David Walker tomorrow.
The code is aimed at making the buy-out industry more open and transparent. According to the Times, it is a voluntary code that will adopt a 'comply-or-explain' approach to compliance and it will be up to Sir Mike to ensure that firms meet the requirements of the document or explain why they haven't.





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