Sec. 8. Duties of independent member of Financial Stability Oversight Council
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Subsection
(a)of section 112 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5322(a) ) is amended by adding at the end the following new paragraph: To assist the Council with its responsibilities to monitor international insurance developments, advise Congress, and make recommendations, the Independent Member of the Council shall have the authority to— regularly consult with international insurance supervisors and international financial stability counterparts; consult with, advise, and assist the Secretary of the Treasury with respect to representing the Federal Government of the United States, as appropriate, in the International Association of Insurance Supervisors (including to become a non-voting member thereof), particularly on matters of systemic risk, and to consult with the Board of Governors of the Federal Reserve System and the States concerning such matters; attend the Financial Stability Board of The Group of Twenty and join with other members from the United States, including on matters related to insurance and financial stability, and provide for the attendance and participation at such Board, on matters related to insurance and financial stability, of State insurance commissioners; and attend, with the United States delegation, the Organization for Economic Cooperation and Development and observe and participate at the Insurance and Private Pensions Committee of such Organization on matters related to insurance and financial stability. .
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Sec. 8
Duties of independent member of Financial Stability Oversight Council
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