This review examines corporategovernance practices in the investment fund sector of theten new member states in the European Union, composed of theEuropean countries that transitioned to market economies inthe 1990s: the eight countries that joined the EuropeanUnion (EU) in 2004 .Czech Republic, Estonia, Hungary,Latvia, Lithuania, Poland, Slovakia and Slovenia. plusBulgaria and Romania which joined in 2007. Croatia, forwhich accession negotiations started in 2005, is alsoincluded in this Review. (For simplification, thesecountries will be referred to as the EU11.) The review drawson two sources for data. Over the last two years, in-depthdiagnostic reviews of investment governance were conductedby the World Bank in two of the countries, the CzechRepublic and Slovenia. The objectives of the reviews were todevelop a set ofgood practices. for investment fundgovernance and provide specific recommendations for thesupervisory authorities in each country. The second sourcewas the public websites of each of the supervisoryauthorities. The analysis in the review also draws on anumber of recent studies done by international organizationssuch as IOSCO and the EU on governance in the investmentfund sector. This review does not attempt to replicate thesestudies, but instead aims to identify selected areas wherefund governance could be strengthened either by laws andregulations or by government policies.