Regulatory Alerts2004-12-13
FMA Circular on Professional Qualifications for Responsible Actuaries and Deputies
The Austrian Financial Market Authority (FMA) issued this circular to define the professional qualification standards for responsible actuaries and their deputies under the Insurance Supervision Act. The document mandates that appointees hold a diploma in mathematics or technical mathematics, possess specialized knowledge in insurance and financial mathematics, and have at least three years of relevant practical experience. It further specifies the exact academic coursework credits and documentation required to prove these qualifications during the appointment notification process.
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