Which act allowed the continuation of state insurance regulation while applying federal laws?

The McCarran-Ferguson Act is pivotal in the context of state insurance regulation, as it affirms that states possess the primary authority to regulate the insurance industry. This act, enacted in 1945, essentially allows states to maintain their regulatory framework governing insurance while also subjecting the insurance industry to federal laws, provided that these federal laws do not specifically relate to insurance.

The significance of the McCarran-Ferguson Act lies in its establishment of a framework that recognizes the unique nature of insurance as a service that can be effectively regulated at the state level. This means that while federal laws may apply, they cannot overrule or disrupt state regulations that govern the insurance industry, thus preserving the ability of states to enact laws that protect consumers and maintain market stability.

In contrast, the other acts listed either do not pertain to insurance at all or focus on different areas of financial services, such as securities or financial institution operations, rather than the specific regulation of insurance as addressed in the McCarran-Ferguson Act.