Swedish Private Equity & Venture Capital Association, SVCA Launches its Code of Conduct and Supervisory Board
Hans-Gunnar Axberger, former Parliamentary Ombudsman and Press Ombudsman has been appointed as chairman of the Supervisory Board. Appointed as Supervisory Board members are Björn Börjesson, vice chairman of the Third Swedish National Pension Fund and Agneta Dreber, chairman of Stockholm Health Care Services, Stockholm County Council. SVCA´s Board of Directors appoints suitable persons to serve as undismissable members of the Supervisory Board for a prescribed term.
Due to the importance of private equity for the Swedish economy, SVCA has as an industry association, a task in monitoring that the ownership role of private equity firms is made clearer to the public and the mass media. Firms which do not meet its social responsibility must be subjectable to review. It is against this background that SVCA has created a system for self-monitoring, comprising of a Code of Conduct and a Supervisory Board.
The main purpose of the Code of Conduct is toensure public confidence in that private equity firms act responsibly and professionally. Its content highlights the industry´s societal responsibilities and the transparency requirements this entails.
The intention of the Supervisory Board is to review individual cases and make assessments of different kinds, and also to spread knowledge about the norms of the Code of Conduct and the way these are observed by the private equity firms. The Supervisory Board is also entitled to take own initiatives to perform more generally inclined investigations and preventive measures. It shall also administer the Code of Conduct, i.e. further its application and evaluate its mode of operation, and serve as a referral body.
Gabriel Urwitz, chairman SVCA and Managing Partner Segulah Advisor, +46 (0) 8402 8708
Isabella de Feudis, CEO SVCA, +46 (0) 8678 3090
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Swedish Private Equity & Venture Capital Association (SVCA) is an industry association for private equity: limited partners, buyouts, venture capital and business angels. The association was founded in 1985.