Have your say on the introduction of a revised IFoA Disciplinary Scheme.
The Disciplinary Scheme is essential for upholding the actuarial profession’s high standards and reputation. The proposals for a revised scheme include the introduction of new measures that will allow greater flexibility in the way conduct issues are addressed, without affecting the integrity of the process. These include:
- A shorter and clearer definition of ‘misconduct’
- An initial assessment process, so that complaints without substance will not need a full investigation
- The introduction of Disciplinary Orders for low-level, straightforward cases in which the member admits misconduct at the outset
- The right of the IFoA to seek a reviewmor appeal in the public interest
- Extending the existing process to recover costs.
The full proposals and the rationale behind them can be found on the IFoA’s website at bit.ly/3R3DILk
“I strongly believe that the proposals we are asking members to vote on represent a significant improvement and a real shift to a more modern, progressive, agile and efficient disciplinary process,” says IFoA president Matt Saker. “For example, the revised scheme is clearer and easier to follow and allows members to better understand their role in the disciplinary process and the options available to them.
“There are also a number of new measures to be introduced that will allow greater flexibility for maintaining the integrity of the disciplinary process. Enforcement of the IFoA standards plays an important role in ensuring the public continues to place trust in actuaries. It is therefore important for every member to read the proposals and exercise their right to vote. As IFoA president I very much encourage you to do so.”
Fellows and Associates who have not yet voted on this proposal will receive an email from UK Engage, reminding them of their opportunity to do so and confirming when the vote will close and when the results will be announced.
Contact [email protected] if you did not receive an email, or have any questions about the vote.
