Designated Professional Body

The Financial Services & Markets Act 2000, which governs financial services in the UK, allows the Institute and Faculty of Actuaries (IFoA) to act as a Designated Professional Body (DPB) for the purposes of Regulated Activities.

What constitutes Regulated Activities 

The rules about what constitutes Regulated Activities can be found in:

The Designated Professional Body (DPB) Board is responsible on behalf of the Regulation Board for meeting the Institute and Faculty of Actuaries' responsibilities as a Designated Professional Body (DPB) under Part XX of the Financial Services and Markets Act 2000.

About the DPB Board

The DPB Board reports to Regulation Board. The DPB Board meets four times a year and its members include lay people as well as volunteer members of the IFoA.

As a DPB, the IFoA is able to licence certain actuarial firms to carry out some restricted activities without the firms necessarily being authorised by the Financial Conduct Authority (FCA), providing they obtain a DPB licence from the IFoA

As well as granting licences, the IFoA's DPB Board issues guidance to authorised firms and deals with any complaints about firms acting under a DPB licence.

The DPB Handbook

The DPB Board has published a guide to explain how the licence regime operates. The Handbook has been approved by the FCA and will always take precedence over any other material published by the DPB Board, including the DPB Guide.

The Board maintains the DPB Handbook which contains the rules of the regulatory regime.  

Requirements for licensed firms

Licensed firms are required to submit a Return to the IFoA every year.


Licensed firms

Firms licensed by the IFoA acting as Designated Professional Body
Learn more

Apply for a DPB licence

Find out about license fees and application process
Learn more

Complaints against DPB firms

We investigate complaints about licensed firms

Learn more

DPB Board Papers

View meeting minutes and papers.
Learn more

DPB Handbook and Guide

The DPB Handbook details the rules for conducting Exempt Regulated Activities or Non Mainstream Regulated Activities
Learn more

DPB Guide

A guide for Licensed Firms
Download the guide

DPB board

Meet the Designated Professional Body (DPB) Board..
Learn more
Contact Details:

Contact Details:

For more details, or to make an application or enquiry, please email or write to the DPB Manager. Institute and Faculty of Actuaries, Level 2 Exchange Crescent, 7 Conference Square, Edinburgh, EH3 8RA
+44 (0) 131 255 0826