U.S. Regulatory Relief – U.S. Insurance Regulation
We turn now to a little-noticed section of the new financial-reform law, following prior
analyses of the bill as a whole,1 the regional-BHC provisions,2 new leverage-capital
standards,3 and additional bank prudential requirements.4 Section 211 includes an array of
restrictions on Treasury, the Federal Reserve, and the Federal Insurance Office (FIO)
designed to force far greater transparency at all global financial-regulatory bodies and sharply limit the ability of the U.S. to concur with global insurance policy. The FRB will also face new barriers to finalizing capital rules for insurance-related entities under its jurisdiction.