Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • September 2014
09

IFoA: Disciplinary Tribunal Panel hearings

Open-access content Wednesday 3rd September 2014 — updated 5.13pm, Wednesday 29th April 2020

Member of Council Kathryn Morgan was one of a select group asked to test the IFoA’s new website, launched this month. Here she gives her opinion on the usability of the site and its look and feel

Anthony Hugh Carus FIA

At a Disciplinary Tribunal Panel hearing on 24 June 2014, the investigation actuary laid the following charge of misconduct against Anthony Hugh Carus (the respondent).

Being at the material time a Fellow of the Institute and Faculty of Actuaries:

1. In November 2012, when contacted by the complainant, a solicitor representing a business (in sequestration) and the trustee in sequestration in legal proceedings against the Financial Services Authority (FSA) in the Upper Tribunal (Tax and Chancery Chamber), you prepared a report in those legal proceedings which was not expected by the complainant, and you thereafter:

(a) contacted the FSA to inform it that a draft report you had created in relation to the ongoing legal proceedings was in existence;

(b) your actions were intended to cause embarrassment to the complainant;

(c) in doing so, you acted in a vexatious and/or malicious way.

2. In your actions at 1(a) - (c) above, you failed to maintain and observe the standards of conduct expected of a member, in breach of principles 1, 2, 3 and 5 of the Actuaries' Code and, in any event, constituting misconduct in terms of Rule 1.6 of the Disciplinary Scheme of the Institute and Faculty of Actuaries, being conduct falling below the standards of behaviour, integrity, competence or professional judgement which other members or the public might reasonably expect of a member.

In respect of charge 1(a), the respondent had accepted, on reflection after the event, that it had not been appropriate for him to have contacted the FSA and had admitted that to have done so had been a mistake. 

The panel found that, in the circumstances of this case, the communication which the respondent had with the FSA constituted misconduct in terms of Rule 1.6 of the Disciplinary Scheme.

In respect of charges 1(b) and 1(c), the panel did not find these charges proven from the evidence which had been submitted, and so these charges were dismissed.

The panel imposed the following 

sanctions in respect of charge 1(a) which it had found proven:

• a reprimand;

• costs: the panel determined that the respondent should make a payment of £5,000, inclusive of VAT, towards the costs of the Institute and Faculty of Actuaries.


Balakrishnan Subramaniam Iyer (student)

At a Disciplinary Tribunal Panel hearing on 1 July 2014, the tribunal considered charges that the respondent had cheated on the Institute of Actuaries of India CA1 examination and that his behaviour had been dishonest.

The panel found the facts proven on the respondent's admission. 

In respect of the charge of dishonesty, the panel also found that charge proven by applying the legal test of dishonesty to the evidence submitted.

The panel found that the respondent's actions were in breach of Principle 1 of the Actuaries' Code and, in any event, constituted misconduct in terms of Rule 1.6 of the Disciplinary Scheme.

As a result of the finding of misconduct, the panel imposed the following sanctions:

• suspension from membership of the IFoA from 1 July 2014 to 3 August 2015.

• costs: having considered the conduct of both parties to the case, and taken into account the respondent's submission on costs, the panel considered it appropriate to make an award of costs of £5,104.20 against the respondent and to require that they be paid by no later than 31 December 2014.


 Full reports on the above cases, including the panel's reasons, can be found on the IFoA's website at www.actuaries.org.uk

This article appeared in our September 2014 issue of The Actuary.
Click here to view this issue
Filed in
09

You might also like...

Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Environmental, Social and Governance- GI Actuary

England, London
£70000 - £170000 per annum
Reference
145888

Calling All Australian Actuaries

England, London
£50000 - £120000 per annum
Reference
145887

Calling all GI Actuaries looking to move into contracting

England, London
£700 - £1000 per day
Reference
145886
See all jobs »
 
 

Today's top reads

 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2023 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ