A project begun in early 2012 between FIO and U.S. state regulators and the European Commission (EC) and the European Insurance and Occupational Pensions Authority (EIOPA). The stated objective is to increase mutual understanding and enhance cooperation between the E.U. and the U.S. to promote business opportunity, consumer protection, and effective supervision. The project includes a comparison of the E.U. and U.S. regimes on seven topics: (1) professional secrecy/confidentiality; (2) group supervision; (3) solvency and capital requirements; (4) reinsurance and collateral requirements; (5) supervisory reporting; (6) data collection and analysis; and (7) independent third party review and supervisory on-site inspections.