BaFin signs cooperation agreement with world regulators
German insurance regulator Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) has signed memoranda of understanding with Florida’s Office of Insurance Regulation and the Insurance Authority of The Hong Kong Special Administrative Region of The People's Republic of China (IA).
This follows a similar deals last year with the New York regulator and regulators in the United Arab Emirates and the Dubai Financial Services Authority.
The deals involve sharing critical information and coordinating regulatory duties and give each regulatory agency formal authority to request assistance for verification, investigation and examination of issues related to regulated companies under one or the other’s authority.
