At the beginning of 2007, Sir David Walker was asked by the BVCA and a group of major private equity firms to undertake an independent review of the adequacy of disclosure and transparency in private equity. Sir David completed this with a view to recommending a set of guidelines by the industry on a voluntary basis.

On 17 July 2007, Sir David issued a consultation document which sought views from the industry and related bodies.

On 20th November 2007, Sir David’s team issued their final guidance.

Subsequent updates to Sir David’s original guidance can be viewed here.