Following a substantive review and public consultation, the IFoA has published changes to the Actuaries Code.
Following a substantive review and public consultation, the IFoA has published changes to the Actuaries' Code.
The revised Code, which will come into force in May 2019, will be clearer, more concise and relevant to all IFoA members. The changes to the Code reflect the ongoing growth and diversification of our membership and aim to ensure that the Code remains fit for the future.
The revised Code:
- Is simplified and more principles-based
- Uses updated language to ensure it remains relevant to all members, wherever they are based and regardless of their employer
- Aims to clarify members' obligations using the words 'must' and 'should'; and
- Introduces a new standalone 'Speaking up' principle.
The existing Code will continue to apply until the revised Code comes into force.
The IFoA is developing non-mandatory guidance to accompany the revised Code. This will contain information about each of the principles of the Code, as well as its application, scope and status and purpose. The guidance will be published in spring 2019.
You can find more information about the revised Code on the IFoA website at bit.ly/2GNbxMH
If you have any questions about the revised Code, you can contact the IFoA's regulation team at [email protected]