The Joint Forum of the Basel Committee, the International Organisation of Securities Commissions (IOSCO) and the International Association of Insurance Supervisors (IAIS) has published two consultation papers looking at:

  • Longevity risk transfer markets: market structure, growth drivers and impediments, and potential risks. This report warns of the increasing awareness that as people live longer, insurers and pension funds are paying out on pensions and annuities longer than anticipated. The financial exposure is significant and pension funds are increasingly looking for ways to hedge or transfer this exposure. The paper is intended to help in setting appropriate policies and to help ensure effective supervision of related activities and risk.
  • Point of Sale (POS) disclosure in the insurance, banking and securities sectors. This paper identifies and assesses differences and gaps in regulatory approaches to POS disclosure for investment and savings products across the insurance, banking and securities sectors. It considers whether there should be greater harmonisation of rules and makes several recommendations to supervisors.

Consultation on both papers closes on 18 October. (Source: Joint Forum Consults on Longevity and Point of Sale Disclosure)