European Commission\'s latest capital adequacy proposals for banks and investment firms - the third Consultative Paper - attracted many comment letters by the October 22 deadline. The proposals will form the basis of the risk-based capital directive, the EU\'s version of Basel II. Here\'s a summary of some of the comments.

As financial firms adjust to a seismic shift in the way they are regulated, how do they manage the impact?

TORONTO - Algorithmics, Canadian provider of enterprise-wide risk management software, said it launched an enhanced package in its latest version of Algo Suite 4.4 to support data consolidation, calculations and reporting needed under the Basel II upgrade of capital rules for bank safety.

NEW YORK - SunGard Trading and Risk Systems announced in October a partnership with financial software provider Raft International to deliver an operational risk management product.

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CHICAGO, November 3 - Global banking regulators are refining the information disclosure aspects of the Basel II update of capital rules for bank safety so that they ensure a more level playing field without being overly burdensome, Basel Committee chairman Jaime Caruana said over the weekend.

BRUSSELS, November 13 - US banking supervisors will look very seriously at a letter sent to them by US House Financial Services Committee members last week urging a cautious stance on the Basel II upgrade of international capital rules for bank safety, US Federal Reserve Board vice chairman Roger Ferguson said today.

No \"rejection\" of new accord. It remains long-term aspiration. Reform drive to restore banking sector solvency is priority. By Melvyn Westlake

LONDON - Bankers, regulators and accounting standards setters have agreed to start a formal three-way dialogue to try and achieve greater consistency between the regulatory capital rules and the accounting framework for banks.

WASHINGTON - A call for a stronger supervisory focus on insurers\' financial risks is made by the International Monetary Fund in its latest Global Financial Stability Report (GFSR).