Fidelis pressure group wants Faculty free from UK Institute
The first “Chartered” actuaries in the UK, the Scots Faculty of Actuaries, may scupper a merger with the rest of the UK’s Institute of Actuaries if the Fidelis lobby group is successful, The Herald reports.
Actuaries are poised to vote on the merger of their two professional societies. Scotland's 153 year-old Faculty of Actuaries obtained a royal charter in 1868 while the institute, even though it is eight years older, had to wait until 1884.
A joint councils meeting of the Institute and Faculty of Actuaries to be held in Edinburgh on April 29 will vote on whether to seek a formal poll of the full membership on a merger.
An "actuarial defence group" called Fidelis named after the faculty's motto "ad finem fidelis" (faithful to the end), has been set up to defend the independence of the 2,500 member Faculty.
