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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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Events calendar

  • Autumn Lecture 2020: Professor Elroy Dimson

    Online webinar
    14 October 2020

    Spaces available

    Many individuals and institutions have a long-term focus, and invest funds for the benefit of future generations. Their strategy should reflect their long horizon. University endowments are one of the oldest classes of institutional investor, and I will present the first study of the management of these endowments over the very long term.

  • GIRO Conference 2020 Webinar Series

    Available to watch globally in November.
    02-13 November 2020
    Spaces available

    This year's GIRO has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the general insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's GI Online Learning Resource area.

  • Life Conference 2020 Webinar Series

    Online
    16 November 2020 - 27 November 2020

    Spaces available

    This year's Life Conference has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the life insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's website.

  • Spaces available

    The webinar will discuss the challenges and opportunities schemes face in evaluating end game options, choosing a target state and understanding the impact this strategic decision could have on member outcomes long after the “end state” is reached. Adolfo, Kevin and Rhian bring over 60 years of experience in the industry and a variety of perspectives as scheme actuary, covenant adviser, trustee, de-risking adviser and insurer.

  • Spaces available

    Cash-flow driven investing is a game-changer for DB pension funds navigating their end-game. Suitable for sponsors who want to reduce risks on their balance sheets. And for trustees, it shifts the focus to providing greater certainty of returns, managing funding level volatility and ensuring they have enough income to pay cash-flow requirements.

  • Spaces available

    The talk will provide an understanding of the priorities and relationships between deficit reduction contributions, in the context of wider scheme funding, and different types of value outflow from the employer based on the working party’s recently published report.