IAIS Multilateral Memorandum of Understanding on Cooperation and Information Exchange (IAIS MMoU)
Although accession to the MMoU regime is not obligatory on the part of any IAIS Member, closer cooperation and information exchange amongst insurance supervisors is an extremely important aspect for strengthening insurance supervisory regimes and promoting financial stability. It is also a clear indication of the benefits supervisors aim to achieve by being part of this new global regime where high standards of confidentiality shall be condition sine qua non. The processes and procedures have been streamlined and a new Online MMoU application tool was launched in October 2010 to make the application process web-enabled and easily accessible.
International Endorsement : The IAIS MMoU framework was adopted by the IAIS Executive Committee at its triannual meeting held on 15 February 2007 in Dubai. The IAIS includes international organisations that are members of the IAIS, including IMF and World Bank.