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
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • February 2016
02

Appeals tribunal panel: Mr Michael James Asher

Open-access content Monday 1st February 2016

On 26 November 2015, the appeals tribunal panel considered an appeal against the determination by a disciplinary tribunal of a finding of misconduct against Mr Michael James Asher relating to non-compliance with a monitoring exercise carried out by the IFoA in respect of CPD year 1 July 2010 to 30 June 2011.

On 26 November 2015, the appeals tribunal panel considered an appeal against the determination by a disciplinary tribunal of a finding of misconduct against Mr Michael James Asher relating to non-compliance with a monitoring exercise carried out by the IFoA in respect of CPD year 1 July 2010 to 30 June 2011.

Further charges relating to a failure to retain sufficient records and failure to demonstrate that appropriate and sufficient continuing professional development (CPD) had been undertaken in respect of the same CPD year had not been proved before the disciplinary tribunal panel and had been dismissed.

The appeal tribunal panel noted that the disciplinary tribunal panel finding rested not on a conclusion that Mr Asher was subject to the CPD scheme but rather on a breach of an obligation to point out at an early stage that he was not required to do CPD at all because he was not in paid work. On this view, compliance with the CPD scheme extends even to those not subject to it in the first place.

The IFoA indicated in advance of the appeal hearing that it would not resist the appeal, as it had not been proved at the disciplinary tribunal that Mr Asher was subject to the CPD scheme in operation at the time. 

In allowing the appeal, the appeal tribunal panel stated that it was "incumbent" upon Mr Asher to inform the IFoA at all times, but certainly in 2012, that he was not in paid work and that he therefore was not subject to the CPD scheme to do CPD activities at all. 

The appeal panel considered this obligation to be more than one of mere courtesy, stating that: "…there is a professional duty arising out of the terms of the Actuaries' Code on any member when called upon to supply evidence of compliance with the CPD scheme, to say at the earliest possible opportunity (if that is his case) that he is not obliged to comply with the requirements of the CPD scheme because of factors he is aware of but of which the IFoA cannot be so aware." 

Despite the lengthy history of the matter, Mr Asher had only told the IFoA that he was not in fact subject to the CPD scheme after the start of the formal hearing into the allegation of misconduct. Delays and adjournments had been caused by this late notification of the true nature of his defence. It was entirely possible that, had he made clear his position earlier, there would have been either no hearing at all or a much shorter hearing.

In the circumstances, the appeal against the finding of misconduct was allowed, the sanction of a reprimand was quashed, but the costs award against Mr Asher remained at a contribution of £5,000 inclusive of VAT towards the IFoA's costs at first instance.

The full determination, including the appeal tribunal panel's reasoning, is available on the IFoA website at bit.ly/1SDZC6c

This article appeared in our February 2016 issue of The Actuary.
Click here to view this issue
Filed in:
02

You might also like...

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

Latest Jobs

Capital Analyst- no capital experience required

London (Central)
£Competitive
Reference
121218

Pricing Analyst looking to broaden experience?

London (Central)
Up to £55,000
Reference
121217

Head of Pricing - International

BMD excellent
Reference
121202
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

© 2021 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited, Level 5, 78 Chamber Street, London, E1 8BL. Tel: 020 7880 6200