IAIS global cooperation framework gets under way

A new cooperation framework for supervisors, adopted by the International Association of Insurance Supervisors (IAIS) in 2007, has gone live after authorizing the first supervisors to join the progamme. The Bermuda Monetary Authority, the Financial Supervisory Commission of Chinese Taipei and Germany’s regulator BaFin have signed up to the IAIS’s Multilateral Memorandum of Understanding (MMoU). According to the IAIS, a further 17 national supervisors from around the world have submitted applications to join the MMoU.