IAIS Announces Unified Path to Convergence on ICS Version 2.0
The IAIS has agreed that implementation of ICS Version 2.0 will be conducted in two phases - a five-year monitoring phase followed by an implementation phase. Implementation of ICS Version 2.0 will also have two equally important components. The first is mandatory confidential reporting by all IAIGs of a reference ICS. The second is additional reporting, at the option of the group-wide supervisor. Following the announcement by Members from
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