Insurance & the SIFI Designation: Changes on Tap?
from PIA Western Alliance
Ted Nickel is Wisconsin's insurance commissioner and the new president of the National Association of Insurance Commissioners (NAIC). He spoke at the recent Insurance Information Institute (I.I.I.) 23rd Annual Joint Industry Forum and made the case for radical changes in the direction the Financial Stability Oversight Council's (FSOC) has been taking. Nickel said the FSOC and its liberal use of the SIFI (systemically important financial institution) and how it arrives at decisions about who should or should not be SIFI designated, is misguided.
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