BRUSSELS MOVES TO REIN IN $3 TRILLION SOVEREIGN FUNDS

Business & money: European commission wants agreement on a global code of conduct for funds.

Brussels warned yesterday that it could legislate to curb the activities of sovereign wealth funds unless the investment vehicles, which command assets estimated at up to $3 trillion, open themselves up to scrutiny.

RLCC: Sovereign wealth funds are surplus reserves owned by a state (nation-state; government) that are usually invested in capitalistic enterprises. China, Japan, and others have huge reserves.

Originally by Ian Traynor from Guardian Unlimited on February 25, 2008, 5:05pm

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  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
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