FRC announces newly formed Actuarial Council

THE FINANCIAL REPORTING COUNCIL has announced the membership of its newly formed regulatory committee, the Actuarial Council.

Earlier this year, the FRC carried out consultation exercises over its structure and regulatory scope, including issues surrounding stewardship (PP Online 20 April), Accountancy Age’s sister publication Professional Pensions reports.

The Actuarial Council is one of three recently established advisory bodies which will support the FRC board and committees with expert knowledge and experience.

Olivia Dickson has been named chair of the Actuarial Council, leading a ten-strong team of industry figures.

Dickson was previously a senior advisor at the Financial Services Authority and has since held a number of non-executive roles and memberships to advisory panels, including The Pensions Regulator. She is also trustee director and chairwoman of the Risk Committee at the Mineworkers Pensions Scheme.

Hewitt Associates’ Keith Barton and Punter Southall’s head of client services Joanne Livingstone have been appointed as council members, along with Martin Bradley, Angela Darlington, Ashok Gupta and David HIndley.

Howard Jacobs, Paul Johnson, Oonagh McDonald and Martin Miles complete the advisory group.

Previously, the responsibility of regulating the actuarial industry had been held by the Board of Actuarial Standards before it was transferred to the FRC in July 2012.

In addition to the Actuarial Council, the body has formed the Audit and Assurance Council, headed up by Nick Land, and the accounting council, led by Roger Marshall.

FRC chairwoman Baroness Hogg said: “In establishing the councils, the FRC has made important appointments that will command respect for the quality, range and objectivity of their input. Each council will make a strong contribution to our input to EU and international, as well as domestic policy-making.”