The Institute of Actuaries in England and the Faculty of Actuaries in Scotland are the two regulatory bodies for actuaries in the UK. Actuaries must comply with professional requirements in the bye laws of the Faculty or Institute, standards produced by the Profession and the Board for Actuarial Standards, and with professional conduct standards that require them to maintain high standards of professional practice, ethics and conduct, and most of them do.

Occasionally, however, things go wrong, and the profession has developed disciplinary procedures in order to enforce its professional requirements. The Faculty and Institute deal with complaints against individual actuaries who are members and fellows of their respective organisations which raise a question of professional misconduct.

This section of the website will give you information on:

• Regulation, standards and compliance - including information on the Financial Reporting Council (FRC) and the Board for Actuarial Standards (BAS)
• Statutory roles and practising certificates
• Professional conduct and discipline
• Professional Regulation Executive Committee
• The Institute as a Designated Professional Body