News

The Society has responded to the Central Bank of Ireland’s Consultation Paper 92: “Consultation on Domestic Actuarial Regime and Related Governance Requirements under Solvency II”.

The response includes the following comments:

The Society of Actuaries in Ireland has responded to a consultation by the UK Institute and Faculty of Actuaries on a proposed Actuarial Profession Standard (APS) on “The Actuary as an Expert”. 

The proposed APS is principles-based and provides a framework to be followed by members of the Institute and Faculty when acting as an expert witness or expert advisor in legal proceedings or proceedings of a legal nature (whether in the UK or elsewhere).

The Society of Actuaries in Ireland has responded to the Central Bank of Ireland’s Consultation Paper “Second Consultation on Review of Consumer Protection Code”.

The Society supports the Central Bank’s continued objective to strengthen the consumer protection framework. We welcome the introduction of revised measures which will benefit consumers in their dealings with the financial services industry and which will provide both additional protections and enhancements to existing provisions.

The Society of Actuaries in Ireland has responded to the Central Bank of Ireland’s Discussion Paper  on “Economic Scenario Generators and Market Consistency”.

The Society recognises the difficulties involved with calibrating market-consistent economic-scenario generators in the absence of deep and liquid markets, and we welcome the Central Bank's initiation of a discussion on this topic.

The Society of Actuaries in Ireland has responded to the Central Bank of Ireland’s Consultation on “The Fit and Proper Regime in Part 3 of the Central Bank Reform Act 2010”.

The Society recognises the importance of a robust fitness and probity regime and supports the objectives of the Central Bank in this area. However, the response notes that fitness and probity must be seen as only one part of an overall corporate governance and risk management structure.