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The Joint Forum

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Chapter Summary

The field of financial services has become more complicated and diverse over the last few decades. The Joint Forum on Financial Conglomerates first met in January 1996 and included supervisors from 13 states. The membership of the Joint Forum spreads over 13 states and that includes Australia, Belgium, Canada, France and Germany. The Joint Forum is a joint committee of the Basel Committee on Banking Supervision (BCBS), International Organization of Securities Commissions (IOSCO) and the International Association of Insurance Supervisors (IAIS). The position of Chairman of the Forum rotates between these three bodies for two-year terms. The key role of the Joint Forum in transnational economic governance is to act as an expert body creating standards or best practices and undertaking analysis on international financial issues of a cross-sectoral nature.

Keywords: Basel Committee on Banking Supervision (BCBS); financial conglomerates; International Association of Insurance Supervisors (IAIS); International Organization of Securities Commissions (IOSCO); Joint Forum; transnational economic governance



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