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IAIS issues progress reports ahead of G20 Summit and FSF.
(From InsuranceNewslink.com)
The International Association of Insurance Supervisors (IAIS) has issued two progress reports to the Group of Twenty (G20) and Financial Stability Forum (FSF). These reports respond to G20 and FSF recommendations in 2008 to enhance sound regulation, strengthen transparency and reinforce international cooperation. They address specific actions the IAIS has recently taken, including:
-charting a new focus for the IAIS on the supervision of internationally active insurance groups;
-working with the International Organization of Securities Commissions and the Basel Committee on Banking Supervision to identify important regulatory gaps and areas for enhanced supervision;
-providing guidance on the use of supervisory colleges in group-wide supervision.
The IAIS has identified several issues facing insurers and insurance supervisors, ...
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