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04

Disciplinary Tribunal Panel: Mr Michael James Asher

Open-access content Tuesday 31st March 2015 — updated 9.20pm, Thursday 2nd April 2020

On 10 November 2014, 18 December 2014 and 23 February 2015, the Disciplinary Tribunal Panel considered a charge of misconduct against Mr Michael James Asher, relating to non-compliance with a monitoring exercise carried out by the IFoA and for not retaining sufficient records to prove participation in the continuing professional development (CPD) events entered on his CPD record in respect of CPD year 1 July 2010 to 30 June 2011.

The panel found that the IFoA had not provided a sufficiency of evidence to allow the panel to determine that the respondent was in paid work during the 2010/2011 CPD year. For the same reason, the panel found that there was no requirement in that year for the respondent to demonstrate that he had undertaken appropriate and sufficient CPD.

However, the panel felt that, in respect of the monitoring exercise, the respondent had not complied with his professional requirements and that he had therefore breached Principle 4 of the Actuaries' Code. In doing so, the respondent had frustrated the IFoA in its important role of monitoring members' compliance with the CPD Scheme. The panel felt that the respondent had ample opportunity to explain to the IFoA that he was not in paid work for the relevant CPD year and, had he done so at the appropriate time, there may have been no need for the subsequent extensive investigation and resulting disciplinary proceedings. The panel found that the respondent was guilty of misconduct in terms of Rule 1.6 of the Disciplinary Scheme. 

The panel imposed the sanction of a reprimand and determined that the respondent should make a contribution of £5,000 inclusive of VAT towards the IFoA's costs.

The full determination, including the panel's full reasoning, is available here.

This article appeared in our April 2015 issue of The Actuary.
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