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BVCA establishes monitoring body ahead of Walker review announcement19/11/2007. Source: AltAssets. 
 When Sir David Walker publishes his final guidelines and recommendations on transparency and disclosure for the private equity industry tomorrow morning, the BVCA will have already established a monitoring and review body to check that private equity firms stick to the 'comply or explain' principle and to keep the guidelines under review.
The new body will have five members, two from private equity, two from outside the industry and an independent chairman, so that it will have a majority of independent members.
The first chairman will be Sir Mike Rake, who became chairman of British Telecom on 26 September 2007. Prior to that, he was chairman of KPMG International and, before that, chairman of KPMG in Europe and senior partner of KPMG in the UK.
BVCA chief executive Simon Walker said, 'The BVCA understands the importance of the private equity industry being more transparent. This is why we have established an independent monitoring group to police the guidelines Sir David Walker will set out. We are very pleased that the first chairman of this group will be Sir Mike Rake, chairman of BT. He is a senior, well respected figure whose views will carry real authority.'
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