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Calif. Insurance Dept. Signs Pact With Germany

The department said the memorandum "provides a formal basis for reasonable cooperation and coordination between the CDI and BaFin to exchange information and, where appropriate, investigative assistan

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The California Department of Insurance said it has signed a memorandum of understanding with German insurance regulators, the first the state has signed with a foreign country.

Insurance Commissioner Steve Poizner announced Monday that the department signed the memorandum with Bundesanstalt f?r Finanzdienstleistungsaufsicht (BaFin), Germany’s regulator.

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