Balz slams IAIS for rule-making 'behind closed doors'

Burkhard Balz, member of the European Parliament's Committee on Economic and Monetary Affairs

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The European Parliament has too little input into rules being developed for global systemically important insurers (G-Siis) and the common international framework currently being developed by the International Association of Insurance Supervisors (IAIS), says Burkhard Balz, a member of the European Parliament's Committee on Economic and Monetary Affairs (Econ).

"We do feel very uncomfortable that the development of these international rules is happening behind closed doors," said Balz, speaking

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