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Sustaining In A Changing Environment: International Regulatory Cooperation Within The Insurance Industry

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Executive Summary

As the global financial crisis continues to foster an environment of change and challenge for the financial markets, international governments are placing increased focus on regulation in an effort to prevent repeating past mistakes and to foster new uniformity and transparency standards across jurisdictional boundaries. And while moves toward this level of regulatory cooperation for the entirety of the financial system are beginning to percolate in the U.S., throughout the European Union and elsewhere, a group of international regulators is in the midst of developing guidance papers and standards aimed at addressing insurance regulators and markets worldwide.

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