Question to the HM Treasury:

To ask Her Majesty's Government what steps they have taken to ensure that the (1) definition, and (2) scope, of actuarial activities to be subject to proposed statutory regulation by the Auditing, Reporting and Governance Authority (ARGA) does not lead to regulatory duplication and regulatory arbitrage.

HM Government consulted publicly on its proposals to reform the regulation of the actuarial profession in chapter 11.2 of its White Paper ‘Restoring trust in audit and corporate governance’. As part of the consultation process, the Government has held discussions with a range of actuarial stakeholders.

The Government is considering the responses to its consultation and will respond in due course.