Official: FSB to act on systemic-risk designation if IAIS doesn't

04/7/2013 | National Underwriter Life & Health

The Financial Stability Board will take action to identify global systemically important insurers if the International Association of Insurance Supervisors fails to do so, IAIS Secretary-General Yoshi Kawai says. The IAIS also is considering the possibility of a global capital standard, Kawai said. Such a move has met opposition from some regulators and the industry. Insurance regulators should deal with gaps in oversight and overlapping supervision, according to PCI.

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