The National Association of Insurance Commissioners (NAIC) has reappointed John Huff, Missouri Insurance Director, to a second two-year term as the state insurance commissioner representative on the Financial Stability Oversight Council (FSOC).
In this role, Huff will continue to represent the interests of the nation’s state insurance regulators on the council. FSOC is a fifteen member body comprised of the nation’s chief financial regulators.
FSOC was created by the Dodd-Frank Wall Street Protection and Consumer Protection Act in 2010 to monitor the safety and stability of the nation’s financial system, identify risks to the system, and coordinate a response to any threats.
The council has the authority to identify financial firms, financial market utilities and systemic payment, clearing, or settlement activities whose failure could potentially pose a risk to the financial system.