The importance of being prudent
As Secretary General of the Paris-based Autorite de Controle des Assurances et des Mutuelles (ACAM), Florence Lustman campaigns to keep traditional prudential supervision at the heart of Solvency II. Nicholas Dunbar reports
Life & Pensions: There is a growing trend for supervisors (such as the UK's Financial Services Authority (FSA)) to combine a responsibility for retail consumer protection with promotion of orderly and efficient markets. What do you think of this approach?
Florence Lustman: In France the situation is very clear. Prudential supervision is organised in order to protect policyholders. You can have a problem if you have parallel goals because you can have a conflict between these different goals. But
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