Bourbon Offshore Botswana. Numbered accounts

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Over the ten largest hedge funds in Europe have joined together to develop a voluntary code of conduct in the industry. The objective - to minimize the pressure from a number of states requiring more stringent regulation of the industry.

According to the Financial Times, hedge fund group officially issued on Monday. Another 35 European hedge funds are invited to participate in the working group, which «would be assessing the areas in which changes are needed, as well as develop certain standards of business practices of hedge funds».