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In June this year, Council agreed a new strategic direction for the Actuarial Profession. The Profession is now seeking lead volunteers to assist with implementing the strategy and is inviting applications from members to fulfil these key roles.
Following the recent instabillity in the FTSE Actuaries Gilt Yield Indices, FTSE Group has since re-issued new figures from 11 October 2011 to 20 October 2011, following its investigation. Actuaries are advised to take the relevant measures to ensure use of these updated figures.
The CMI has published two related working papers, CMI Working paper 56, and CMI Working paper 57.
Sir Harry Burns, Chief Medical Officer for Scotland, gave the Institute and Faculty of Actuaries' (IFoA's) Autumn Lecture on 10 October 2011.
On 10 October the Profession published a very important consultation paper on conflicts of interest, together with appendices.
The Institute and Faculty of Actuaries has announced that it has approved accreditation for the BSc Actuarial Science course at Hong Kong University.
CMI Working paper 55 was published in September 2011.
The Institute and Faculty of Actuaries has appointed Alan Phillips to the role of Chairman of its Management Board with effect from 13 September 2011. The Management Board has oversight responsibilities for operational matters related to the Actuarial Profession’s strategy, corporate plan, policy and operational plans, and all matters related to the Profession’s resources. Alan succeeds Sally Bridgeland who recently stood down from the position.
The Actuarial Profession has issued two new Actuarial Profession Standards (APSs) in the field of life assurance: