The globalization of the insurance industry has been a boon to the industry, but that expansion comes with greater scrutiny of how the business is regulated. The global financial crisis underscored the need in regulator’s minds for more global oversight and cooperation. As a result, a number of international organizations are developing guidelines and standards for regulating the insurance industry and intermediaries. The Council works with a number of international organizations, including the World Federation of Insurance Intermediaries (WFII), the International Association of Insurance Supervisors (IAIS), the Organization of Economic Development and Cooperation (OECD) and the International Monetary Fund IMF), on shaping regulation of insurance intermediaries. The Council continually monitors world developments for their impact on members’ business.