Private equity review attracts union flak

Sir David Walker's proposals for a voluntary code of conduct to encourage transparency come under fire from TUC as lacking sufficient scope

The latest report into the private equity sector was released last week, amid vocal criticism from trade unionists. The Walker Review was commissioned by the British Venture Capital Association and conducted by Sir David Walker, a senior adviser at Morgan Stanley International, and former executive director the Bank of England. It had the stated aim of creating a voluntary code of conduct encouraging transparency and disclosure in a notoriously secretive industry. The report was a collaboration between several high-profile private equity heads, including representatives of Blackstone,...