07/18/2018
https://www.congress.gov...
"One of the things I have a concern about is the Financial Stability Board importing what is essentially a European or international capital approach to the American insurance industry."
"Does anybody disagree with Mr. Cohen's assessment there?"
"I think that our witnesses today made a pretty bulletproof case that the nature of the insurance industry is sufficiently different from the nature of banking to merit a different capital regime."
"we strongly urge the FSOC and other governing bodies not to base any policy or regulation actions grounded on the information in the OFR study . . . ."