The Obama administration has proposed a far-reaching set of new regulations for the financial industry, including a federal systemic risk regulator with new powers to designate and regulate any financial firm that is deemed to be "systemically important." The new agency will also have the authority to liquidate or rescue any financial firm that is in danger of failing. If adopted by Congress, the administration's plan could take the regulation of the largest insurers--and their resolution in the case of financial difficulty--out of the hands of state regulators. Is this change in insurance regulation warranted by the financial crisis that we are now experiencing, and will designating certain large insurance companies as "systemically important" place smaller companies at a competitive disadvantage? These and other questions will be addressed at this conference, jointly sponsored by AEI and the Competitive Enterprise Institute.
Veronique Rodman
American Enterprise Institute
1150 Seventeenth Street, N.W.
Washington, DC 20036
Phone: 202-862-4870
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Sunday, November 22, 2009
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