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News and industry updates

Nominations for Council

Find out about key industry issues, key issues for our president and get an update on education changes.

Comments of the Retail Distribution Review March 2015

SAM is one of the biggest regulatory changes to impact industries where many actuaries work. 

Read about what is on top of our president’s agenda and where the Actuarial Society is heading.

FAIS

Some Actuarial Society members perform functions that require them to comply with the fit and proper requirements of the Financial Advisory and Intermediary Services (FAIS) Act, including qualification requirements and regulatory exams.
In 2010 the Actuarial Society’s FASSA and AMASSA qualifications were recognized as generic qualifications.

The first level regulatory exam is compulsory and no exemption is possible.

The generic recognition of FASSA and AMASSA does not provide exemption from the product-specific second level regulatory exams. Please find attached the following documents with regards to the Process of Applying for Exemptions with the FSB and subsequent response from the FSB. Members should engage in the process of application for Exemptions directly with the FSB and we suspect that each application will be evaluated on a case by case basis.

ASSA FAIS APPLICATION FORM
ASSA VERIFICATION REPORT
FSB LETTER
RECOGNISED QUALIFICATIONS_Generic (G)_Specific (S)_Specific (SP) Designations