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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

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

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 Board has published a guide to explain how the licence regime operates.

The Board maintains a DPB Handbook which contains the rules of the regulatory regime. The DPB Handbook has recently been amended to incorporate the EU Insurance Distribution Directive.  The changes made are highlighted in yellow. 

 

Licensed firms are required to submit a Return to the IFoA every year. The 2018 Annual Return form is now available to download.

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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