News in brief

Bulk buyouts
The Annuity Bulk Buyout Market will be the subject of the fourth Faculty sessional meeting on 18 February. Cliff Speed will lead the panel discussion at The Merchants’ House of Glasgow, 7 West George Street, Glasgow. The meeting starts at 4.30pm for 5pm.

BAS standards
The Board for Actuarial Standards (BAS) is responsible for producing technical actuarial standards and the Actuarial Profession is responsible for implementing them. Each body is responsible for the content of its own website. BAS has advised that some minor amendments relating to obsolete references to other regulatory documents came into effect on 12 November 2007. The changes relate to Version 7.0 BAS amendment 1 of GN20: Actuarial Reporting under the Lloyd’s Valuation of Liabilities Rules. To view a copy, please visit www.frc.org.uk/documents/pagemanager/bas/v7.0%20(BAS%20Amendment%201).pdf
The Profession does not send hard copies of new or amended guidance to members. Directory update The latest update to the Professional Standards Directory was issued on 30 November 2007. It allows members and others to access the current BAS standards together with the current version of the Actuarial Profession Standards. To view a copy, please visit www.actuaries.org.uk/Display_Page.cgi?url=/professional_affairs/prof_standards.html

Exam results
In this session, 6472 students in 80 centres sat 7958 exams, with 3770 passes. A total of 42 Faculty members and 270 Institute members can now go on to qualify as fellows, while 22 Faculty members and 184 Institute members can now apply to become associates. Those that have passed the exams to become fellows will be officially welcomed into the Faculty and the Institute at forthcoming ceremonies.

Staple Inn library is moving
Staple Inn library will be moving to a new space at Staple Inn in early March. The library will close on Friday 29 February and re-open on Monday 17 March in its new home. If you need study space during this period, please call 020 7632 2114 in advance or e-mail david.raymont@actuaries.org.uk to make alternative arrangements. The new library space offers more space and an improved environment for study.

Staple Inn security
A visitors’ register and name badge system will be introduced from 3 March for staff and visitors to Staple Inn. Exceptions will be made for Sessional meetings and other meetings where badges are issued as standard. CCTV will be installed in the main building over the weekend of 2 to 3 February.