5 December 2025
In November 2025, the IFoA Regulatory Board made the decision to withdraw APS L2: The Financial Services and Markets Act 2000 (Communications by Actuaries) Regulations 2003.
APS L2 summarises various obligations placed on members working in life insurance which arise from the Financial Services and Markets Act 2000 (Communications by Actuaries) Regulations 2003 and the associated rules issued by the Financial Condict Authority (FCA) and the Prudential Regulation Authority (PRA). As such, APS L2 does not introduce obligations not already placed on members by the UK government, FCA, or PRA.
Given this, and the fact that no significant issues have arisen in this area of work since APS L2 was introduced in 2011, the Regulatory Board has agreed that APS L2 may be withdrawn without significant risk to the public interest. However, members active in this area of work should note that this withdrawal does not affect remaining obligations in this area under regulations issued by the UK government, FCA, or PRA.
APS L2 will be withdrawn from 23 January 2026.
If you have any questions of concerns about this withdrawal, please get in touch with us by writing to regulation@actuaries.org.uk.