As part of the arrangements for restructuring the FRC which were announced on 29th March last year, it was agreed that the non-executive Directors of the new FRC Board should over time endorse the appointment of the Chairs of all the FRC’s Operating Bodies (OBs), and that the OB Chairs should become ex officio members of the new FRC Board.

The non-executive Directors of the FRC have now endorsed the continuation of the tenure of Paul Seymour as Chair of the Board for Actuarial Standards, and he will, therefore, become an executive Director of the FRC with immediate effect.

1. The Financial Reporting Council (FRC) is the UK’s independent regulator responsible for promoting confidence in corporate reporting and governance.
2. The FRC’s functions are exercised principally by its operating bodies (the Accounting Standards Board, the Auditing Practices Board, the Board for Actuarial Standards, the Financial Reporting Review Panel, the Professional Oversight Board and the Accountancy and Actuarial Discipline Board) and by the Committee on Corporate Governance.
3. The Board for Actuarial Standards has a primary objective of promoting high quality actuarial practice by establishing and improving actuarial technical standards and ensuring that they are coherent, consistent and comprehensive.
4. All media enquiries should be addressed to Ian Rodger, Head of Communications, 020-7492-2395 or i.rodger@frc.org.uk.