To secure CBB approval, the actuary must satisfy the CBB's criteria for Registered Actuary or Signing Actuary, contained in Paragraphs AA-4.2.1 to AA-4.2.12. The actuary of an insurance firm undertaking long-term insurance business, except as provided for under Paragraph AA-4.1.2, must, on an annual basis, undertake an investigation to enable the preparation of the Financial Condition Report (FCR), as specified in Section AA-4.3.