Regulatory Alerts2024-12-05
Order on the Responsible Actuary
The Danish Financial Supervisory Authority issued this Order to regulate the appointment, qualifications, and duties of the Responsible Actuary in life insurance companies and pension funds. It mandates that the actuary must hold specific academic credentials and practical experience, and requires the board to report appointments and dismissals to the regulator. Furthermore, it establishes strict reporting obligations, including an annual report to the board and a detailed regulatory report to the Financial Supervisory Authority, with penalties for non-compliance.
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