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As a result of such discussions, during the Summer Meeting, the Financial Condition (E) Committee adopted a referral to the SAP Working Group that requests consideration of changes to the SAP Working Group’s maintenance policy related to the use of the terms “substantive” and “non-substantive.” The changes are effective December 31, 2021.
The Task Force stressed that the guidance provided in the whitepaper will not be designed to preempt state authority but rather will assist regulators in providing greater consistency among states’ review of predictive models. The Task Force aims to complete the whitepaper by the fall of 2018.
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