; and (B) when the Secretary, the Board of Governors, and the National Association of Insurance Commissioners represent the United States in negotiations with respect to insurance issues before the International Association of Insurance Supervisors, the Financial Stability Board, or any other international forum of financial regulators or supervisors that considers insurance issues. 4. Insurance Policy Advisory Committee (a) Establishment The Board of Governors shall establish the Insurance Policy Advisory Committee on International Capital Standards and Other Insurance Issues. (b) Membership The Committee shall be composed of not more than 11 members, all of whom shall represent a diverse set of expert perspectives from the various sectors of the insurance industry of the United States, including individuals— (1) from the fields of— (A) life insurance; (B) property and casualty insurance; and (C) reinsurance; and (2) with experience serving as— (A) agents and brokers; (B) academics; (C) consumer advocates; or (D) experts on issues facing underserved insurance communities and consumers. (c) Nonapplicability of FACA The Federal Advisory Committee Act (5 U.S.C. App.) shall not apply to the Committee or the activities of the Committee. 5. Requirements for consent to adopt international capital insurance standards The Secretary and the Board of Governors may not agree to, accept, establish, enter into, or consent to the adoption of a final international capital insurance standard with an international standard-setting organization or a foreign government, authority, or regulatory entity unless— (1) the Secretary and the Chair of the Board of Governors have, with respect to the text of the proposed final international capital insurance standard— (A) published the text in the Federal Register; (B) made the text available for public comment for a period of not less than 30 days; and (C) submitted a copy of the text to the appropriate committees of Congress on a date on which both Houses of Congress are in session