Current rules suitable for private equity says OECD
International group rejects idea of drawing up separate governance rules for private quity
The OECD has rejected calls for it to draw up a separate governance framework
for private equity firms and hedge funds, arguing that the current rules are
appropriate to both groups.
The international body had set up a steering group to examine the governance
of private equity and hedge funds following widespread concerns that these
industries lacked transparency, created conflicts of interest and placed the the
efficiency of public markets at risk.
The
OECD
concluded, however, that current systems were sufficient.
‘We will compare all the voluntary standards that are already out there and
look for ways to develop a dialogue with representatives from the industry about
key corporate governance issues,’ said Marcello Bianchi, chairman of the
steering group.
Further reading:
Read the full
findings of the steering group