Sovereign Wealth Funds Code of Conduct
The Chairman of Standard Chartered warned yesterday that state-backed sovereign wealth funds should have to adhere to a code of conduct allowing more transparency and governance.“Because sovereign wealth funds have become such important players, they have to behave impeccably,” he told the Financial Times. “Otherwise they’re irresponsible participants in the world economy.”
While this topic is soon to be discussed at the World Economic Forum some see the road of enforcing any type of code over sovereign wealth funds to be a long if not never-ending road to go down. The powers at be who want a code of conduct have no real power of these state governments and capital is in high demand by the very nations that are typically the most vocal in expressing their negative views of these foreign investments.
- Richard
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Full Article: FT
Picture courtesy of Standard Chartered
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