IAIS rejects Solvency II as not “leading the regulatory field”

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Despite an increasing number of non-European Union (EU) countries adopting Solvency II, the Basel-based International Association of Insurance Supervisors (IAIS), has written to the US Senate stating the European directive does not lead "the regulatory field".

The comments came in a letter from Peter Braumuller, chair of the IAIS executive committee and director of insurance and pension company supervision at the Austrian Financial Market Authority, to Christopher Dodd, chair of the Senate

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