Going forward, the Profession and the Board for Actuarial Standards (BAS) will have distinct responsibilities for different types of actuarial standard. Together we will agree where the boundary between ethical and technical standards lies. There will also be ongoing liaison to ensure that our respective outputs complement each other to provide clear and comprehensive standards for actuaries to follow. In this context, we expect that, as BAS issues new technical actuarial standards, the Profession will extend its professional standards to replace the ethical content of any adopted guidance notes which are withdrawn.