Society makes submission to Financial Regulator on Minimum Competency Requirements

The Society of Actuaries in Ireland has welcomed the Financial Regulator’s Review of Minimum Competency Requirements (Consultation Paper 45), noting that “The Requirements benefit consumers by ensuring that individuals who sell or provide advice on retail financial products acquire relevant competencies first”.  

The Society also drew attention to actuaries’ unique competencies in the insurance field and called on the Financial Regulator to recognise the actuarial qualification for the “specified activity” of “Being involved in the decision-making process in relation to [life assurance and general insurance] claims or assisting consumers in the administration of performance of claims