Actuaries draft changes

councils of faculty and institute of actuaries look to reform ahead of government review

The Councils of the Faculty and Institute of Actuaries have written to their members outlining proposals for changes to the way the profession operates. This comes ahead of the Government's planned review of the actuarial profession to be conducted by Sir Derek Morris. Prior to Lord Penrose's comments about the actuarial profession in his report on Equitable Life released early this month, the Faculty had started work outlining changes in the way actuaries operate: from the way standards are set and practising certificates issued through to reviewing professional advice and disciplinary a...