IAIS publishes updated policy for engaging with stakeholders
Stakeholder engagement is essential to the IAIS’ ability to deliver on its mandate. Stakeholder input provides the IAIS a more holistic view of emerging risks and trends in the sector. It also allows the IAIS to include in its planning a range of perspectives to enhance the effectiveness and significance of future initiatives. Effective stakeholder engagement ensures that stakeholders are properly consulted in the development of IAIS policy and that the opportunity for timely, substantive and high-quality contributions from stakeholders is maximised.
The Stakeholder Engagement and Consultation Policy (SECP) consolidates and replaces both the Stakeholder Engagement Plan and Policy for Consultation of Stakeholders. This updated policy builds on a solid foundation of established stakeholder engagement and recognises the necessity for innovative approaches to reach a wider audience of stakeholders. The focus is on ensuring that a diverse range of stakeholders have equal access to the IAIS, while maintaining the integrity of IAIS processes. To strengthen its existing outreach efforts, the IAIS initiated a consultation process in June 2023 for a new SECP.
Respondents to the consultation were broadly supportive of the SECP and suggested some operational changes to further increase engagement. As a result, the IAIS took on board these comments in two ways:
- Changes were made to the SECP to reflect consultation comments; and
- Process changes will be undertaken by the Secretariat in relation to both stakeholder engagement and consultation processes.
The Stakeholder and Engagement Consultation Policy is available here.
The feedback received and the IAIS’ detailed responses are available here.
A public discussion session webinar is scheduled for 13 December to present the final SECP and address stakeholder questions. Details and registration information can be found here.