Schedule C of the Progress Report, on the exclusion of Regulated Financial Services (RFS), reflects many of the key technical features of the insurance and asset management sectors. This is a welcome confirmation of the consideration given by the OECD secretariat to these key issues.

While much progress has been made on the RFS exclusion, GFIA has identified a few remaining areas of concern — most notably, the definitions as set out in Section 20 of Schedule C — which are highlighted in GFIA’s response.

Response