The Joint Forum of: Basel Committee on Banking Supervision, International Organization of Securities Commissions and International Association of Insurance Supervisors has released two consultative reports. The first covers longevity risk transfer markets, specifically market structure, growth drivers and impediments and potential risks. The Joint Forum has identified longevity risk – the risk of paying out on pensions and annuities longer than anticipated – as significant when measured from a financial perspective. The Joint Forum hopes its report will draw attention to this increasingly important issue and assist in setting appropriate policies.

The second report looks at Point of Sale (POS) disclosure in the insurance, banking and securities sectors. The report identifies and assesses differences and gaps in regulatory approaches to POS disclosure across various industries and considers whether regulatory approaches to disclosure need to further aligned across sectors.