What constitutes Regulated Activities
The rules about what constitutes Regulated Activities can be found in:
- The Regulated Activities Order (Statutory Instrument 2001, No 544) as amended, and
- The Non-Exempt Activities Order (Statutory Instrument 2001, No 1227) as amended.
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.
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 Manager, Institute and Faculty of Actuaries, Level 2 Exchange Crescent, 7 Conference Square, Edinburgh, EH3 8RA
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Events calendar
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Pensions Winter Forum: Corporate Transactions
25 January 2022
Over recent months there has been a sharp rise in M&A activity involving British businesses, with interest from overseas, domestic buyers and Private Equity investors. -
Frank Redington is recognised as one of the most influential actuaries of all time. In this talk, Craig will review some of Redington's most important ideas. He will identify the consistent actuarial principles that form a common thread across the contributions Redington made to a broad range of actuarial fields, and will highlight the ongoing relevance of Redington's thinking to 21st century actuarial practice.
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The IFoA Mental Health working party look back over their week of blogs and podcasts considering all aspects of the relationship between mental health and life insurance. The expert panel spans adviser, underwriter and actuarial experience and they explore triggers for purchasing insurance relating to mental health, the various routes to insurance and how these may be more suited to different people depending on their conditions and preferences, the products and processes involved in purchasing these as well as what claims and support are available to policyholders and how to access them.
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Part of the 'Finance in the Public Interest 2022' webinar series. If it was ever okay to consider your business in isolation from its surroundings, today it most definitely is not. Thinking about business within its surrounding system is now a necessity. The question we seek to discuss is: How should we prescribe the boundaries in which we consider problems to enable us to create better products and more resilient companies and systems?
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ARC Webinar - The next generation of CDC pensions? Analysing a post-retirement retirement vehicle
18 February 2022What will happen to DC pension savers who see life annuities as poor VFM but still want an income for life? Pooled annuity funds could offer them a decent lifetime income while reducing significantly the complex choices and risk inherent in income drawdown. They could be the next generation of CDC pension schemes, slotting into the existing DC framework as a post-retirement option.
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ARC Webinar Series 2022 - Lifting the lid on intergenerational investment risk-sharing
24 February 2022Investment risk-sharing is a fundamental part of whole-life collective defined contribution (CDC) pension schemes, such as the Royal Mail CDC. But how does investment risk-sharing benefit members? And does it favour some groups of members over others?
Over recent months there has been a sharp rise in M&A activity involving British businesses, with interest from overseas, domestic buyers and Private Equity investors.