World’s biggest sovereign wealth fund says EU markets need single regulator

The world’s largest sovereign wealth fund will this week tell the European Union that “better and simpler regulation” is key to the markets reforms it urgently needs.

“European markets over time have fallen behind in terms of business dynamism and the provision of new investment opportunities to institutional investors,” Norges Bank Investment Management, the largest single-owned investor in EU capital markets, said in a letter addressed to the European Commission to be sent Tuesday.

The letter comes as part of an