1 September 2011
The Actuarial Profession has issued two new Actuarial Profession Standards (APSs) in the field of life assurance:
- APS L1: Duties and responsibilities of life assurance actuaries; and
- APS L2: The Financial Services and Markets Act 2000 (Communications by Actuaries) Regulations 2003
Both APSs are effective from 1 October 2011.
The Board for Actuarial Standards (BAS) will also withdraw a series of Guidance Notes (GNs) across various practice areas from 1 October 2011, the date when the Insurance TAS, Funeral Plans TAS (replacing the BAS owned GN38) and Transformations TAS come into force.
Full details of the new APSs, TASs and all GNs being withdrawn can be found on the Professional Standards Directory updates page.