DIARY - Financial Regulation Events

Following are details of major scheduled financial regulation events, conferences and policy announcements.

July 21

WASHINGTON - U.S. President Barack Obama signs financial reform bill into law.

July 22

LONDON - The Committee of European Banking Supervisors holds a public hearing on draft guidelines that will require banks to retain not less than 5 percent of the securitised products they originate.

July 23

LONDON - Committee of European Banking Supervisors publishes results of its stress tests of 91 EU banks at 1600 GMT.

July 26

BASEL, Switzerland - The Group of Central Bank Governors and Heads of Supervision meets to review tougher bank capital and liquidity recommendations from the Basel Committee, which it oversees.

August

LONDON - International Accounting Standards Board set to publish draft changes to its standards on lease and hedge accounting.

September

STRASBOURG, France - The European Parliament set to hold first reading vote on draft law to reform financial supervision in the European Union.

September

BRUSSELS - Representatives from the European Parliament, EU governments and the European Commission continue talks aimed at reaching a final deal on an EU law to regulate managers of hedge funds and private equity groups.

September

BRUSSELS - The European Commission due to publish draft law on regulating over-the-counter derivatives markets to include mandatory clearing of eligible, standardised contracts and reporting to trade repositories.

September

BRUSSELS - European Commission to propose end date for migrating all national payments systems to new single euro payments area system.

September

BRUSSELS - European Commission to put forward proposals for toughening up sanctions against firms that breach EU financial services rules as part of review of EU rules on market abuse.

September

BRUSSELS - European Commission to propose new law to simplify and clarify legal ownership of securities.

October

BRUSSELS - European Commission to propose measures to regulate naked selling of sovereign credit default swaps. Also expected to propose measures on responsible lending and borrowing and best practices in mortgage foreclosure.

October

BRUSSELS - European Commission to propose a "communication" or policy document for a framework for cross-border crisis resolution with legislation to follow in early 2011.

November

BASEL, Switzerland - The Financial Stability Board to put forward policy options to increase the standardisation of over-the-counter derivatives and implement mandatory clearing and exchange or electronic trading requirements globally. FSB also to make recommendations on dealing with "too big to fail" banks.

November

SEOUL - G20 summit to discuss financial regulation, including how to tackle systemically important banks and endorse new Basel III bank capital and liquidity rules.

December

BRUSSELS - European Commission to propose fourth revision of the EU's bank capital requirements directive to include a leverage ratio, tougher definition of capital liquidity rules, extra capital buffers.

First quarter 2011

BRUSSELS - European Commission expected to come forward with proposals to reform the EU Markets in Financial Instruments Directive (MiFID) and the EU Markets Abuse Directive (MAD) to ensure both sets of rules cover OTC derivatives as well. Amendments will also look at sanctions and pre and post trade transparency.

Second quarter 2011

BASEL, Switzerland - The Financial Stability Board undertakes a second review of how its principles on curbing excessive bank compensation are being applied in G20 countries.

June 2011

G20 deadline for agreement on convergence of accounting rules set by IASB and U.S. Financial Accounting Standards Board (FASB).

2011

BRUSSELS - European Commission to propose fifth round of revisions to its mutual funds legal framework (UCITS) to improve investor protection and apply lessons from the Madoff fraud.

End 2011

Implementation of higher capital requirements introduced for bank trading books as required by the Basel Committee.

End 2012

G20 aims to implement Basel III bank capital and liquidity rules by this deadline but full phase in set to take several years.

(Editing by Ruth Pitchford)