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OECD Releases New Policy Guidance for Investments by Sovereign Wealth Funds Presentation: Carolyn Ervin OECD Director for Financial and Enterprise Affairs Discussant David Marchick Global Head of Regulatory Affairs, The Carlyle Group

Event Description:

At the request of the G7 Finance Ministers, the OECD has been working since October 2007 with the IMF and World Bank to examine issues arising from the recent rapid growth of sovereign wealth funds (SWFs).  The objective is to identify policies that will keep markets open for investment as countries also protect their essential economic and national security interests.  

On April 9, the OECD will release a report “Sovereign Wealth Funds and Recipient Country Policies” which provides guidance for the policies of countries that may receive investment from SWFs.   Carolyn Ervin, the OECD Director for Financial and Enterprise Affairs, will present the findings of the report and discuss the OECD’s ongoing project on “Freedom of Investment, National Security and ‘Strategic’ Industries”. 

Biographies:

Carolyn Ervin is OECD Director for Financial and Enterprise Affairs.   During over twenty years at the OECD, Ms Ervin held posts in several areas.  She was Director of the Secretary-General’s Office from 2000 to 2005.  As Counselor in DAF in the 1990s she led the project to negotiate the OECD Anti-Bribery Convention and was a main drafter of the OECD Jobs Study.   During the 1980s and 1990s she handled program and budget issues in the Secretary-General’s office, and helped to set up the Centre for Co-operation with the Economies in Transition. Prior to joining the OECD Ms Ervin spent six years in the United States diplomatic service.

David Marchick is Managing Director for Global Government and Regulatory Affairs. He coordinates Carlyle’s interaction with government officials, regulators and other stakeholders. He is based in Washington, DC. Prior to joining Carlyle, Mr. Marchick was a partner at the law firm Covington & Burling. Mr. Marchick served for seven years in the Clinton Administration, including in posts at the White House, USTR and the Department of State. He is the co-author of the book “U.S. National Security and Foreign Direct Investment."