Joint Forum on Acturial Regulation (JFAR)
Published: 24 September 2023
2 minute read
What was JFAR?
The Joint Forum on Actuarial Regulation (JFAR) was established in 2013 and brought together senior actuarial representatives from the Financial Conduct Authority, The Pensions Regulator, the Prudential Regulatory Authority, the Institute and Faculty of Actuaries and the FRC to coordinate the identification and analysis of public interest risks.
The forum has now been replaced by the FRC holding frequent bilateral and multilateral meetings as needs arise with relevant regulators. The FRC will continue to scan the horizon to maintain a knowledge of current and emerging risks from actuarial work.
Past JFAR Publications
FAR Risk Perspective
The JFAR Risk Perspective was a regular publication to raise awareness of the risks to, and the importance of, high quality actuarial work in mitigating the risk to the public interest. The publication is of most interest to actuaries and to those who are direct users of actuarial work. It focuses on risk to the public interest from areas of work where actuarial involvement is significant. It does not focus on the professional risk to the actuary nor is it limited to areas where the actuary is the sole actor.
| Name | JFAR Risk Perspective |
|---|---|
| Publication date | 8 December 2022 |
| Format | PDF, 4.6 MB |
| Name | JFAR Risk Perspective 2021 |
| Publication date | 27 July 2021 |
| Type | Report |
| Format | PDF, 7.1 MB |
| Name | Climate-Related Risk (including Biodiversity) |
| Publication date | 27 July 2021 |
| Type | Report |
| Format | PDF, 396.0 KB |
| Name | Systemic Risk |
| Publication date | 27 July 2021 |
| Type | Report |
| Format | PDF, 325.7 KB |
| Name | Ageing Population and Affordability |
| Publication date | 27 July 2021 |
| Type | Report |
| Format | PDF, 575.3 KB |
| Name | Unfair Outcomes for Individuals |
| Publication date | 27 July 2021 |
| Type | Report |
| Format | PDF, 421.1 KB |
| Name | Geopolitical, Legislative, and Regulatory Risk |
| Publication date | 27 July 2021 |
| Type | Report |
| Format | PDF, 718.5 KB |
| Name | Technological Change and Competence in New Areas |
| Publication date | 27 July 2021 |
| Type | Report |
| Format | PDF, 453.0 KB |
| Name | Impact of Undue Commercial Pressure |
| Publication date | 27 July 2021 |
| Type | Report |
| Format | PDF, 347.1 KB |
| Name | Effective Communication |
| Publication date | 27 July 2021 |
| Type | Report |
| Format | PDF, 315.1 KB |
| Name | JFAR Risk Perspectives 2019/2020 |
| Publication date | 9 June 2020 |
| Type | Report |
| Format | PDF, 1.2 MB |
| Name | JFAR Risk Perspectives Update 2018 |
| Publication date | 26 April 2019 |
| Type | Consultation paper |
| Format | PDF, 1.0 MB |
| Name | Joint Forum on Actuarial Regulation: 2016 risk perspective update |
| Publication date | 15 December 2016 |
| Type | Report |
| Format | PDF, 608.1 KB |
| Name | Feedback Statement: Joint Forum on Actuarial Regulation: A risk perspective |
| Publication date | 13 July 2015 |
| Type | Consultation paper |
| Format | PDF, 578.4 KB |
| Name | Discussion Paper - JFAR: a risk perspective (October 2014) |
| Publication date | 28 October 2014 |
| Type | Consultation paper |
| Format | PDF, 516.6 KB |
JFAR The Science of Climate Change
The Joint Forum on Actuarial Regulation’s (JFAR) The Science of Climate Change is an extensive report on understanding the science of climate change.
The first of its kind report, which is a unique collaboration between regulators with an interest in actuarial work (FRC, IFoA, FCA, TPR, PRA), highlights the urgency of climate change and the role actuaries have to play in mitigating its risks.
The report is designed to address gaps in actuaries’ knowledge of the science behind climate change, giving actuaries confidence to increase their contributions on this important topic. It includes analysis of:
- Global temperature changes and the impact of mass human migration, rising sea levels and its impact on the UK and Europe specifically and implications for food security and human mortality.
- The interconnectedness of biodiversity and climate change.
- Tipping points - a critical threshold beyond which a system reorganises abruptly and irreversibly. Many of these tipping points such as effects in the Arctic and Antarctic regions will be familiar, but there are other tipping points such as the effects on ocean circulation, permafrost thaw, and forest dieback, which are less well-known but equally important.
- Efforts to mitigate climate change, the concepts of carbon budgets and net zero.