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Regions / Europe

Newsletter Sept 2008: System limits America’s international role

Simon Turmaine | September 9, 2008

America’s current system of insurance regulation means the nation’s representatives cannot bind US supervisors to standards developed at international level, according to former top US regulator Alessandro Iuppa. He told the Senate’s influential banking committee that this is just one of the results of the state-based regulatory system that’s prevailed for more than 135 years and which needs urgent reform.

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