Global regulators must work together

The blurring of business lines coupled with globalisation have demanded change from the regulatory systems that oversee the financial services industry. Supervisors can no longer take an isolated view of a market, and the trend is increasingly towards cross-sector and global collaboration. Roger W Ferguson, vice chairman of the National Association of Insurance Commissioners (currently also chairing the International Association of Insurance Supervisors), recently presented his views to an NAIC insurance symposium on how the industry’s supervisors are rising to the challenge of collaboration and keeping pace with change in the industry.