EU Guidelines Aim To Stabilize Financial Markets

Law360, New York (February 27, 2008, 12:00 AM EST) -- The European Commission put forth proposed guidelines on Wednesday aimed at making sovereign wealth funds more transparent, predictable and accountable in order to bring more stability to global financial markets.

After adopting its proposals, which encourage striking a balance between open investment, proper risk-management and the participation of international organizations, the commission passed them on to the European Council for final approval.

“Sovereign wealth funds are not a big bad wolf at the door,” said EC President José Manuel Barroso. “They have injected liquidity and helped...
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