The IAIS MMoU provides a global compliance and confidentiality framework that allows an open collaboration and information sharing between insurance regulators. “In order to become a member of the MMoU, the candidates undergo a rigorous assessment of their trade secret regimes by an independent group of IAIS members. Through MMoU membership, supervisors can share relevant information and provide assistance to other signatories of the agreement, thereby contributing to financial stability and sound supervision of cross-border insurance operations for the benefit and protection of consumers,” the ARDFM release emphasizes.
The agency is confident that joining the IAIS MMoU will help improve the efficiency of the ARDFM in exercising its supervisory functions in the field of insurance and simplify and expand cooperation with financial market regulators in other countries.
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