Skip to content
Subscriber Only

Europe's Code for Sovereign Wealth Funds

The EU will agree to a set of accountability principles to govern the country-owned funds as a first step toward global regulations

The European Union will agree tomorrow on "a set of principles for transparency, predictability and accountability" for Sovereign Wealth Funds, according to the president of the European Commission, José Manuel Barroso.

Mr Barroso said that the European approach would be the first step towards a global code. Mr Barroso added that there were "real concerns" about some funds. "We cannot allow non-European funds to be run in an opaque manner or used as an implement of geopolitical strategy," he said.