On 15 August 2013, the Joint Forum (comprised of financial regulatory representatives in the areas of banking, securities and insurance) published a consultation on longevity risk (i.e. the exposure to paying out at greater levels than expected on pensions and annuities) transfer markets. Notably, the Joint Forum estimates that total global longevity risk exposure ranges from $15 - $25 trillion. The consultation aims to raise awareness of the potential risks involved in such markets. Key recommendations for regulators in this regard include (a) cooperation concerning longevity risk transfer to reduce the potential for holders of longevity risk to circumvent regulatory restrictions for such business and (b) ensuring that holders of longevity risk have the appropriate expertise and information to manage such business properly. Comments are invited until 18 October 2013.