Future regulatory framework for financial services

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The Institute and Faculty of Actuaries (IFoA) has just submitted a generation-defining declaration of future focus for insurance, pensions, and the financial system in response to HM Treasury’s consultation on the future regulatory framework for financial services.

The submission was led by Tan Suee Chieh and supported by the concerted efforts of the IFoA, ATC members and many other actuaries.

The IFoA has historically anchored its submission to public consultations on greater fairness and transparency, better ethics and behaviour.

Anchored to fairness, the IFoA raised the important issues of climate risk and biodiversity loss, of the developing impacts of COVID, of inequality and insecurity, of how financial services has recently exacerbated these and how financial services needs to be re-imagined to ameliorate them.

Now is the time to widen discussions on culture, purpose, beliefs and objectives for financial services by engaging many stakeholders.

The IFoA is ready.

Read the blog for further discussion.