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The Actuary The magazine of the Institute & Faculty of Actuaries
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Actuarial Profession issues new life assurance standards

The Actuarial Profession has issued two new Actuarial Profession Standards (APSs) in the field of life assurance.

APS L1: Duties and responsibilities of life assurance actuaries
APS L2: The Financial Services and Markets Act 2000 (Communications by Actuaries) Regulations 2003

Both APSs are effective from 1 October.

The Board for Actuarial Standards (BAS) will also withdraw a series of Guidance Notes (GNs) across various practice areas from 1 October 2011, the date when the Insurance TAS, Funeral Plans TAS (replacing the BAS-owned GN38) and Transformations TAS come into force.

Full details of the new APSs, TASs and all GNs being withdrawn can be found on the Professional Standards Directory updates page of the Profession's site.