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Designated Professional Body

The Financial Services & Markets Act 2000, which governs financial services in the UK, allows the Institute and Faculty of Actuaries (IFoA) to act as a Designated Professional Body (DPB) for the purposes of Regulated Activities.

What constitutes Regulated Activities 

The rules about what constitutes Regulated Activities can be found in:

The Designated Professional Body (DPB) Board is responsible on behalf of the Regulation Board for meeting the Institute and Faculty of Actuaries' responsibilities as a Designated Professional Body (DPB) under Part XX of the Financial Services and Markets Act 2000.

About the DPB Board

The DPB Board reports to Regulation Board. The DPB Board meets four times a year and its members include lay people as well as volunteer members of the IFoA.

As a DPB, the IFoA is able to licence certain actuarial firms to carry out some restricted activities without the firms necessarily being authorised by the Financial Conduct Authority (FCA), providing they obtain a DPB licence from the IFoA

As well as granting licences, the IFoA's DPB Board issues guidance to authorised firms and deals with any complaints about firms acting under a DPB licence.

The DPB Handbook

The DPB Board has published a guide to explain how the licence regime operates. The Handbook has been approved by the FCA and will always take precedence over any other material published by the DPB Board, including the DPB Guide.

The Board maintains the DPB Handbook which contains the rules of the regulatory regime.  

Executive Staff:

Judith Joy, DPB Manager

Find out more about members of the DPB Board

Requirements for licensed firms

Licensed firms are required to submit a Return to the IFoA every year.

Contact Details

For more details, or to make an application or enquiry, please email or write to the DPB Manager

dpb@actuaries.org.uk

DPB Manager, Institute and Faculty of Actuaries, Level 2 Exchange Crescent, 7 Conference Square, Edinburgh, EH3 8RA

+44 (0) 131 255 0826

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