The Faculty of Actuaries is looking to a ‘middle way' to stave off regulation that could see members lose the ability to set own standards for the profession, The Scotsman reports.
Reacting to proposals in the interim Morris Report published last year recommending an independent body be set up to oversee actuaries, Faculty president Harvie Brown has warned any moves by the FSA towards full regulation would be too “heavy handed”. ”Fears persist that the FSA, as the statutory regulator of the financial services sector, will still want a final say in the profession’s day-to-day running,” the paper writes. Brown is pushing for an independent standards body, but one that will leave the profession to set the standards, the paper adds. Morris’ final report is set fo...
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