Regulatory Alerts2016-12-07
FINMA Circular 17/4 Responsible Actuary
The Swiss Financial Market Supervisory Authority (FINMA) issued Circular 17/4 to define the qualification, organizational integration, and reporting requirements for the responsible actuary in insurance companies. The regulation mandates that the responsible actuary possess deep knowledge of Swiss actuarial standards, solvency scenarios, and risk assessment, while ensuring organizational independence and transparent disclosure of conflicts of interest. It further requires the appointment of a qualified deputy and establishes specific notification procedures for the appointment, termination, or replacement of the responsible actuary.
Share