As regulators launch second peer review, the shortcomings of Pillar 3 requirements come under the spotlight By David Keefe

In accord with its plans to conduct three country reviews this year, the Financial Stability Board (FSB) said in April that Italy, Mexico and Spain would be the first countries to undergo a peer review of the way they are implementing the global financial reforms agreed by the Group of Twenty leading economies.

Differences over financial instrument accounting pose timetable problems – is the 2011 convergence target in danger?

London, April 1 (Global Risk Regulator) – A round-up of recent global regulatory news follows:

Rekindled hopes that Congress will this year pass Bill overhauling US regulation. Fed retains oversight of big banks; gets consumer agency By Nick Paraskeva

America’s decision to dawdle over using international accounting rules highlights problems with the search for global rules By David Keefe

Harmonisation of Europe’s bank liquidity rules will arrive via CRD IV. It will force UK to change its controversial regime By Melvyn Westlake

Bankers claim hasty adoption of new capital regulation will hurt economy. But reform is higher priority for some By Melvyn Westlake

To the chagrin of some bank regulators and regulatory specialists, last December’s extensive package of capital and liquidity reform proposals from the Basel Committee are now widely referred to as “Basel III.” It is not only financial analysts, think tanks, conference organisers and the media (the Financial Times, Reuters and the Economist) that are adopting this term. Senior bankers and finance ministers are using it, too.

America, Europe and Hong Kong adopt new short-position rules. But there is little evidence of international coordination