The Connecticut Insurance Department and the Swiss Financial Market Supervisory Authority have signed a memorandum of understanding.
The memorandum of understanding with the Swiss FINMA agency calls for the Connecticut department and FINMA to team up to handle international regulatory matters.
The Connecticut department and FINMA can ask for help from each other. “That includes obtaining information on a regulated company or individual,” Connecticut department officials say.
The Connecticut department already has similar arrangements with national financial regulators in the Netherlands and Germany, and it has applied to be a signatory to the International Association of Insurance Supervisors Multilateral Memorandum of Understanding on Cooperation and Information Exchange. That memorandum now includes 17 non-U.S. jurisdictions.