BRUSSELS – Regulators started action in August against 16 European Union states for failure to implement various financial services laws that were supposed to come fully into effect in October 2004

LONDON – A strong warning of “growing risks on the horizon” was given to bankers in early September by Britain’s top financial regulator, John Tiner, chief executive of the Financial Services Authority (FSA). While the central economic forecast for the next 12 months is still positive overall, “we think the downside risks have definitely increased,” he said at a banking industry awards dinner.

JOHANNESBURG – South African banks are on a par with their Asia-Pacific counterparts in the implementation of the new Basel II capital rules, according to Ernst & Young, the global audit and business advisory firm. This conclusion follows a survey of 13 South African banks undertaken by E&Y during the second quarter of 2005 to assess their progress in implementing the new rules, which are expected to be adopted in around 100 countries worldwide from 2007.

WASHINGTON, February 27 - Premiums for bank deposit insurance in the US should be priced to reflect risk properly, US banking supervisors told legislators this week.

LONDON, February 28 - The key QIS 3 survey of banks has left technical experts with some problems over the operational risk provisions of the proposed Basel II bank capital accord, regulatory and banking sources say.

NEW YORK, February 5 - Early results of the key QIS 3 survey of banks suggest that the Basel II capital accord proposals will work as planned, retiring Basel Committee chairman William McDonough said yesterday.

NEW YORK, February 11 - US banks may need to increase their efforts in some areas in preparing for the implementation of the internal ratings based (IRB) approach under the Basel II bank accord, Basel Committee chairman William McDonough said today.

Some 887 amendments have been tabled on the EU capital adequacy directive by lawmakers. But compromises look likely. By Melvyn Westlake

Hedge funds could be facing tighter regulation globally. A more harmonised approach to the industry in Europe gains support. By Melvyn Westlake

Supervision has improved hugely in Chile during the last two decades. But it is adopting new capital rules with caution