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NCOIL Schedules Hearing on Credit Default Swaps

The National Conference of Insurance Legislators (NCOIL) has scheduled a public hearing to develop insights into the proper regulation of credit default swaps and to...
January 8, 2009

The National Conference of Insurance Legislators (NCOIL) has scheduled a public hearing to develop insights into the proper regulation of credit default swaps and to explore what responsibility and role state officials should have in regulating the marketplace. The hearing will be held on Saturday, January 24, from 11:00 a.m. to 3:00 p.m., in New York City.

"We look forward to a robust discussion with participation by all interested parties, including regulators and consumer and industry representatives," said NCOIL President Senator James Seward (NY). "Credit default swaps have been identified as one of the root causes of the collapse at American International Group (AIG) and the turmoil in the global economic marketplace.  NCOIL legislators - as state officials who have maintained stability in the insurance marketplace during financial crises - want to ensure that this previously unregulated market receives proper oversight."

NCOIL is an organization of state legislators whose main area of public policy interest is insurance legislation and regulation. Most legislators active in NCOIL either chair or are members of the committees responsible for insurance legislation in their respective state houses across the country.

NCOIL Public Hearing to Explore Credit Default Swap Regulation (12/29/08)