In some instances, we have entered into Memoranda of Understanding (MOUs) with these organisations which set out the arrangements that we have with them regarding communication, cooperation, disciplinary matters and joint working practices. We review these MOUs on a regular basis to ensure that they are kept up-to-date and accurately reflect the nature of our working relationships.
Organisations we have MOUs with
Currently the IFoA has MOUs with five organisations. These organisations are:
- the Financial Reporting Council (FRC)
- the Pensions Regulator
- the Pension Protection Fund
- the Financial Services Authority (FSA) (in particular, in relation to Designated Professional Bodies)
- the Staple Inn Actuarial Society.
We have also entered into a communication protocol with the FRC which sits alongside our MOU with the FRC. It provides further elaboration as regards our collaboration, notification and cooperation procedures in relation to matters which relate to our respective regulatory responsibilities.
- 6 November 2006
Memorandum of Understanding between the Institute and Faculty of Actuaries and the Board of the Pension Protection Fund25 November 2011
Memorandum of Understanding between the Institute and Faculty of Actuaries and the Staple Inn Actuarial Society18 January 2012
Communication protocol between the Institute and Faculty of Actuaries and the Financial Reporting Council21 August 2012
Memorandum of understanding between the Financial Conduct Authority (FCA) and the Institute and Facutly of Actuaries31 March 2013
Memorandum of understanding between the Financial Reporting Council and the Institute and Faculty of Actuaries in relation to oversight and technical actuarial standards16 August 2012
Memorandum of Understanding between the Financial Reporting Council and the Institute and Faculty of Actuaries23 July 2014