BASEL – Global regulators are seeking legal advice on where best to locate the key operating elements of their planned system for tagging financial trades. The Group of Twenty (G20)-backed system aims at avoiding the problems, with their associated threat to the financial system as whole, encountered in tracking transactions entered into by Lehman Brothers and other firms stricken in the global financial crisis.

Critics say regulators' G-SIFI ideas aren’t in accord with acknowledged low level of risk that exists in the industry

Fed’s new powers will bring some insurers within the ambit of global banking rules; concerns over unintended consequences

Insurance industry leader Walter Kielholz says failure to grasp the differences between financial sectors threatens confusion

WASHINGTON, August 9 (Global Risk Regulator) – The US Federal Reserve has extended the comment period for a proposal that would implement the international Basel III package of tougher bank capital and liquidity rules in America.

LONDON, August 7 (Global Risk Regulator) – European Union regulators will not put retirement incomes at risk with their radical Solvency II reform of insurance supervision, according to Michel Barnier, the EU’s top financial regulator.

Pushback on aspects of the new capital framework is likely, especially its wide scope. But few doubt it will be implemented By Melvyn Westlake

A selection of news items generated by the American regulatory reform agenda

Lawmakers flex muscles over proposed bank capital reforms. Deal with national governments must wait till September

BASEL – Domestic systemically important banks (D-SIBs) are now in the regulators firing line. The Basel Committee has developed a set of principles for identifying such D-SIBs, and setting additional capital requirements to reduce the risk that they pose. These principles are intended as a complement to the rules issued last November to contain the potentially systemic threat from large, internationally-active active banks – G-SIBS or global systemically important banks.