CHARTER
FEDERAL ADVISORY COMMITTEE ON INSURANCE

. Committee's Official Designation (Title). Federal Advisory Committee on Insurance
(FACI).

. Authority. This Charter is prepared and filed in accordance with the Federal Advisory
Committee Act (FACA), as amended, 5 U.S.C. App. 2.

. Objective and Scope of Activities. The purpose of the FACI is to present advice and
recommendations to the Federal Insurance Office (FIO) in performing its duties and
authorities. The advice and recommendations may cover specific or general insurance
topics, processes, studies and/or reports. FIO's duties and authorities are set out in
Subpart A of the Federal Insurance Office Act of 2010 (31 U.S.C. 313, et seq.), Title V
of the Dodd-Frank Wall Street Reform and Consumer Protection Act, P.L. 111-203, 12
U.S.C. 5301 et seq. (July 21, 2010). The FACT will conduct its work at the direction of
FIO. The Director of FIO will determine what Treasury information will be
disseminated to the FACT for its use or consideration.

. Description of Duties. The duties of the FACI shall be solely advisory and shall extend
only to the submission of advice and recommendations to FIO, which shall be non-
binding, to FIO. No determination of fact or policy shall be made by the Committee.

. Official to Whom the Committee Reports. The Committee reports to FIO’s Director.

. Support. The U.S. Department of the Treasury shall provide the necessary support to
the Committee.

. Estimated Annual Operating Cost and Staff Years. The estimated annual operating costs
of the FAC] are approximately $200,000.00, Annual operating costs include travel
expenses for members, staff salary, and other operating expenses. Members shall not be
paid for their time or service on FACIL. Members shall be reimbursed for their travel-
related expenses to attend meetings in accordance with 5 U.S.C. § 5703 (as for persons
intermittently in the government service).

. Designated Federal Officer (DFO). The DFO (or designee) is a full-time federal
employee who will be appointed by the FIO Director and shall ensure compliance with
the requirements of FACA and its implementing regulations. The DFO will approve or
call all of the advisory committee and subcommittee meetings (if any), prepare and
approve all meeting agendas, attend all committee and subcommittee meetings, adjourn
any meeting when determined to be in the public interest, and chair meetings when
directed by the FIO Director.

Estimated Number and Frequency of Meetings. The FACI shall meet at such
intervals as are necessary to carry out its duties. It is estimated that the FACI will



generally meet four times per year.

10. Duration. This is a continuing advisory committee subject to the termination pursuant
to paragraph 11.

11. Termination. The authority to utilize this committee expires two years from the date
this Charter is filed, unless the charter is renewed prior to termination.

12. Membership. The body of the FACI shall consist of up to 25 members. The
Department of the Treasury shall assure that the FACT reflects balanced membership
and includes a cross-section of members representative of the views of State and non-
government persons having an interest in the duties and authorities of FIO, such as
State and Tribal insurance regulators and/or officials, industry experts, and others who
possess relevant expertise and/or who are representative of affected constituencies or
expert in issues facing such constituencies.

13. Subcommittees. The DFO has the authority to create subcommittees that must report
back to the FACI. The subcommittees, if any, may not provide advice or work
products directly to the Department of the Treasury.

14. Recordkeeping. The records of the FACI and its subcommittee(s) will be handled in
accordance with the General Records Schedule. The records will be available for
public inspection and copying, subject to the Freedom of Information Act, 5 U.S.C.

552.

15. Filing Date. The Filing Date of this Charter is July 8, 2035 |

Approved By:

be & ) Date: 6/ 2/201 So

‘Amias Gerety
Acting Assistant secrety for Financial Institutions

LP

Big Fontenot

Assistant Secretary for Management

Date: 6-y 45