Dodd-Frank.com

The New York State Department of Financial Services Proposes Robust Cybersecurity Rules

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On September 13, 2016, the New York State Department of Financial Services (DFS) proposed new rules that would require certain “Covered Entities” to establish and implement cybersecurity programs designed to protect nonpublic consumer information (Nonpublic Information) and technology systems from cyber-attacks (Proposed Rules). Below are some of the highlights of the Proposed... Read More

Topics: Banking, Consumer Protection, Insurance, Uncategorized

OFR Issues Report on Life Insurers Use of Captives

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U.S. Department of the Treasury’s Office of Financial Research, or OFR, has issued a brief titled “Mind the Gaps: What Do New Disclosures Tell Us About Life Insurers’ Use of Off-Balance-Sheet Captives?” The brief analyzes recent regulatory reforms to strengthen disclosure and asset quality standards for U.S. life insurers’ use... Read More

Topics: Insurance

Federal Insurance Office Releases Reinsurance Report

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The U.S. Department of the Treasury’s Federal Insurance Office, or FIO,  released its report on the Breadth and Scope of the Global Reinsurance Market and the Critical Role Such Market Plays in Supporting Insurance in the United States.  The report is required under Title V of the Dodd-Frank Wall Street... Read More

Topics: Insurance

Streamlined Regulation for Insurance Companies

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The Insurance Capital Standards Clarification Act of 2014 has been presented to President Obama for signature.  The bill will: Add language to Section 171 of Dodd-Frank to clarify that, in establishing minimum capital requirements for holding companies on a consolidated basis, the Federal Reserve is not required to include insurers... Read More

Topics: Insurance

Federal Insurance Office Issues Second Annual Report

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The office of the Treasury Department known as the Federal Insurance Office, or FIO, released its second Annual Report on the Insurance Industry.  Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, FIO must report annually to the President and Congress on the state of the insurance industry and... Read More

Topics: Insurance

Federal Insurance Office Releases Modernization Report

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The U.S. Department of the Treasury’s Federal Insurance Office, or FIO, has submitted to Congress and released a report on how to modernize and improve the system of insurance regulation in the United States.  Given the significance of the insurance sector in the U.S. economy, and the globally active nature... Read More

Topics: Insurance

Update on Federal Insurance Office

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The Federal insurance Office, or FIO, which was established by the Dodd-Frank Act, has issued its annual report.  Among other things, the report notes “While insurers would benefit from an increase in interest rates through improved investment returns, a sudden, significant rate increase could present threats. A sudden increase in... Read More

Topics: Insurance