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Regulatory Board

The Regulatory Board is responsible for the Institute and Faculty of Actuaries’ (IFoA’s) Regulatory Strategy.

The purpose of the Board is to help ensure public confidence in actuaries and their work by:

  • ensuring that the IFoA regulatory objectives are being delivered and remain appropriate;
  • authorising codes and standards relating to professional conduct and competence, including the CPD Scheme; and
  • overseeing the disciplinary and enforcement functions;
  • overseeing the public interest regulatory aspect of the examination and admissions framework; and
  • overseeing the proper integration of the IFoA regulatory framework in all IFoA activities.

You can find out more in the Regulatory Board Terms of Reference.

Governance

The Regulatory Board acts independently of Council in relation to the approval of the regulatory programme in the public interest. It reports to the IFoA Management Board on its activities and progress and to Council on strategic matters. You can read more about the IFoA's standard-setting role in its' Regulatory Policy Statement

Regulatory Board members

The Regulatory Board has a lay Chair, and its members include laypeople and a balanced representation of member volunteers from different practice areas. The Board has one practitioner member from the IFoA's Council and the IFoA's General Counsel is also a member. The Board is supported by the IFoA Executive. All vacancies arising on Boards and their sub-committees are advertised as volunteer vacancies on the IFoA website and Board members are appointed by the independent Regulatory Appointments Committee. 

List of members:

  • Neil Buckley, Chair
  • Ben Kemp, IFoA General Counsel
  • Edwin Sheaf, Practitioner Member
  • Matt Saker, Member from IFoA Council
  • Melanie Puri, Practitioner Member
  • Helen Brown, Lay Member
  • Sue Lewis, Lay Member
  • Simon Martin, Practitioner Member
  • Mike Smedley, Practitioner Member
  • David Broadbent, Practitioner Member
  • Stephen Redmond, Lay Member
  • Mitesh Soni, Lay Member

View the members' biographies

Executive support:

  • Leisha Watson, Senior Regulatory Lawyer 
  • Emma Gilpin, Head of Regulatory Policy

Meeting Information

The Regulatory Board meets five times a year. Below you will find information about upcoming Board meetings, including dates and agendas, as well as minutes and papers from previous meetings. Minutes and papers are redacted as and when the Board considers it appropriate to do so.

Scheduled dates

  • 8 February 2022, TBC
  • 26 April 2022, virtual meeting
  • 5 July 2022, virtual meeting
  • 27 September 2022 (Strategy Day), TBC
  • 6 December 2022, virtual meeting

View all meeting minutes and papers

Annual report

The annual report is one of a range of measures adopted to enhance transparency and accessibility of the Board for members and the wider public.

Read the annual report 2021

Read the annual report 2020

Committees

The Regulatory Board is supported by a number of Committees that have been set up to help deliver the Board's objectives. The Board is also supported by various working parties and other groups which make recommendations for one-off projects. You can find a table of the Board's various Committees below. 

Contact Details

For more information please email the Regulation Board Secretary, Leisha Watson

leisha.watson@actuaries.org.uk

Level 2, Exchange Crescent · 7 Conference Square · Edinburgh · EH3 8RA

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Events calendar

  • Spaces available

    Over recent months there has been a sharp rise in M&A activity involving British businesses, with interest from overseas, domestic buyers and Private Equity investors.  

  • Spaces available

    Frank Redington is recognised as one of the most influential actuaries of all time. In this talk, Craig will review some of Redington's most important ideas. He will identify the consistent actuarial principles that form a common thread across the contributions Redington made to a broad range of actuarial fields, and will highlight the ongoing relevance of Redington's thinking to 21st century actuarial practice.

  • Spaces available

    The IFoA Mental Health working party look back over their week of blogs and podcasts considering all aspects of the relationship between mental health and life insurance. The expert panel spans adviser, underwriter and actuarial experience and they  explore triggers for purchasing insurance relating to mental health, the various routes to insurance and how these may be more suited to different people depending on their conditions and preferences, the products and processes involved in purchasing these as well as what claims and support are available to policyholders and how to access them.

  • Spaces available

    Part of the 'Finance in the Public Interest 2022' webinar series. If it was ever okay to consider your business in isolation from its surroundings, today it most definitely is not. Thinking about business within its surrounding system is now a necessity. The question we seek to discuss is: How should we prescribe the boundaries in which we consider problems to enable us to create better products and more resilient companies and systems?

  • Spaces available

    What will happen to DC pension savers who see life annuities as poor VFM but still want an income for life?  Pooled annuity funds could offer them a decent lifetime income while reducing significantly the complex choices and risk inherent in income drawdown.  They could be the next generation of CDC pension schemes, slotting into the existing DC framework as a post-retirement option.