On 9 December 2015, the Institute and Faculty of Actuaries in the UK published an updated actuarial professional standard (APS L1: Duties and Responsibilities of Life Assurance Actuaries).  This sets out requirements for actuaries carrying out the statutory roles such as Chief Actuary for long term business in a Solvency II firm, Actuarial Function Holder, With-Profits Actuary and Reviewing Actuary.