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Firms must act fast on WP rules, says FSA

It is critical that companies begin immediately implementing the
FSA&#39s new with-profits reforms, according to FSA director of insurance firms division David Strachan.

Speaking at the Insurance Reporting and Regulation conference in London this week, Strachan said an immediate priority for firms should be to consider the FSA&#39s Principles and Practices of Financial Management requirements.

The rules stipulate that boards and senior management must make the ultimate judgements about actuarial aspects of their with-profits business.

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