This month, all voting IFoA members will receive an email to our online ballot for a revised Disciplinary Scheme. The proposed new scheme is intended to be clearer and easier to follow, enabling members involved to readily understand their obligations and the options available to them.
Several new measures have been proposed, allowing greater flexibility in how conduct issues are addressed without compromising the integrity of the process. These include:
- A shorter and clearer definition of misconduct
- A filter process so that complaints without substance will not need a full investigation
- The introduction of Disciplinary Orders for low-level straightforward cases where the member admits misconduct at the outset
- The right of the IFoA to seek a review or appeal in the public interest
- Extending the existing process to recover costs from members who have committed misconduct.
It is proposed that the new Disciplinary Scheme will be supported by more detailed regulations containing the operational processes and procedures. This will allow greater flexibility and will ensure the IFoA’s disciplinary processes remain agile and able to adapt to changes in best practice.
While only a small proportion of the membership is likely to be involved in disciplinary proceedings, it is essential for us to uphold our standards through a robust and proportionate enforcement system if we are to maintain and protect the professionalism, reputation and public perception of our members. This will ensure that the public continues to trust our members to hold high standards, not just technically but also professionally and ethically.
Members will be invited to review the proposals and vote on the new Disciplinary Scheme when the vote launches, and we strongly encourage you all to do so.
