Spain plans to split roles of insurance regulator

The Spanish government is planning to disband the country's insurance and pensions supervisor, the Direccion General de Seguros y Fondos de Pensiones (DGSFP), and assign its functions to other bodies. According to sources familiar with these developments, the move follows a report into Spanish financial regulation by the International Monetary Fund (IMF) and is expected to be completed by mid-2009.

Under the proposals, the supervision of insurer and pension fund solvency will be transferred to

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