SUP 4
SUP 4
SUP 4.1.3
See Notes
Applicable sections
- 01/03/2003
SUP 4.4
Appropriate actuaries
- 01/12/2004
Appointment of an appropriate actuary
SUP 4.4.1
See Notes
A firm to which this section applies (see SUP 4.1) and required by IPRU(FSOC) 5.2(1) to ensure that an investigation is carried out must:
(1) appoint an actuary (the "appropriate actuary") to carry out the triennial investigation and prepare an abstract of the report as required by IPRU(FSOC) 5.2(2) and provide the interim certificate or statement as required by IPRU(FSOC) 5.2(3); and
(2) appoint a replacement for that actuary if he ceases to hold office before he has carried out the duty described in (1).
- 21/06/2001
Appropriate actuaries' qualifications
SUP 4.4.2
See Notes
Before a friendly society appoints an appropriate actuary, it must take reasonable steps to ensure that the actuary is a Fellow of the Institute of Actuaries or of the Faculty of Actuaries.
- 21/06/2001
SUP 4.4.3
See Notes
An appropriate actuary should have skills and experience appropriate to the nature, scale and complexity of the firm's business and the requirements and standards under the regulatory system to which it is subject. In complying with Principle 3, a
firm should have regard to whether its proposed appropriate actuary has adequate qualifications and experience, and seek confirmation of this from the actuary, or the actuary's current and previous employers, as appropriate.
- 21/06/2001