The Financial Times notes that a 'code of conduct' for private equity firms in the U.K. has kicked up some controversy. The code was drafted by a former regulator to push the industry to voluntarily publish more information on their accounts, ownership and prospects, including an annual review. But many think the proposal will do little to quell criticism from unions and other critics. The code has been influenced as of late by private equity firms, and critics are none too pleased. Could a similar idea work in the U.S? Well, this is a common ploy by industries that fear additional regulation. In the U.S., the main fear now is additional taxes. I doubt we'll see a 'code of conduct' calling for firms to voluntarily pay more taxes. Talk about a Jerry McGuire move. A career ender.  

For more:
- here's the FT article