The Financial Stability Oversight Committee (FSOC), a body created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, is supposed to help federal financial services regulators monitor trends, events and companies that could threaten the stability of the U.S. financial system.

The U.S. Senate has confirmed the nomination of Roy Woodall to serve a 6-year term as the independent member of the FSOC with insurance expertise.  He will be one of three insurance representatives on the FSOC, and the only one with voting power.  A former Kentucky insurance commissioner, Woodall has also been chief counsel for state relations at the American Council of Life Insurers (ACLI), Washington.

The two non-voting insurance representatives on the FSOC are Missouri Insurance Director John Huff, who represents the National Association of Insurance Commissioners, Kansas City, Mo., and Michael McRaith, director of the new Federal Insurance Office.