The European Commission is set to hold an open hearing in Brussels today to consider the reaction to independent reports published this month on investment fund market efficiency, hedge funds and private equity funds.

Up to 350 delegates including representatives of the European Parliament, delegates from member state authorities, as well as a number of investors will hear discussions based on the three independent reports. The EC said: "The Open Hearing will serve as a first opportunity to gather reactions to these reports from interested stakeholders."