BASEL – International insurance supervisors are focusing on the gaps revealed by the global financial crisis in the regulation of internationally active insurance groups, in particular those shown up by the failure last year of US insurance giant American International Group (AIG).

WASHINGTON – The international banking industry wants the April Group of Twenty (G20) summit to set up a global financial regulatory coordinating council that would play a central role in harmonising standards and enhancing cross-border co-operation.

LONDON – Britain’s top financial supervisor, Financial Services Authority (FSA) chairman Adair Turner, agreed that Britain’s era of so-called ‘light-touch’ regulation had been consigned to “the dustbin of history” when he called, as GRR went to press, for a radical shake-up in the way the UK regulates banking.

Various panicky short selling curbs were adopted around the world last autumn. Global and EU bodies seek agreed approach By Roger Aitken

Australia’s banking system has risen above the turmoil; good regulation seems to be at the heart of the success

America’s state insurance regulators seem to smell a federal rat in the systemic risk regulator idea; they remain opposed to an optional federal charter writes David Keefe

The financial crisis means taking a step back, says an American regulator with an eye on Europe’s Solvency II project

LONDON, March 18 (Global Risk Regulator) – Britain’s top financial regulator today called for a radical shake-up of the way the UK regulates banking, marking a break with the ‘light touch’ regulatory approach of recent years that so signally failed to warn of, or forestall, the global financial crisis.

LONDON, March 13 (Global Risk Regulator) – Key organisations in the world’s regulatory response to the financial crisis – the Financial Stability Forum (FSF) and the Basel Committee of global banking regulators – are expanding their membership to reflect the world-wide impact of the crisis.

BRUSSELS, March 5 (Global Risk Regulator) – As Europe’s executive arm, the European Commission, calls on EU leaders to clean up financial markets on the basis of the key de Larosière report, signs of a limited breakthrough were reported in the stalemate on the reform of insurance regulation.