On 13 August 2018, the Adjudication Panel considered an allegation of misconduct against Mr Ciaran Eunan James Deeney, AIA (the Respondent)
It was alleged that he failed to comply with the Continuous Professional Development (CPD) requirements of the 2016/2017 CPD reporting year in that he failed to demonstrate that he undertook the appropriate minimum amount of CPD, or apply for an exemption, his actions being in breach of the integrity and compliance principles of the Actuaries' Code ('the Code').
The Panel was satisfied that Mr Deeney had breached the compliance principle of the Code, and was of the view that Mr Deeney's actions did not meet the highest standards of integrity expected of an actuary. However, the Panel was not satisfied that this departure from the highest standards amounted to a breach of the integrity principle of the Code.
The panel determined that there was a prima facie case of misconduct and it imposed a reprimand and a £1,500 fine.
In considering sanctions, the Panel had regard to the seriousness of the misconduct in addition to the aggravating factors. The Panel did not consider there to be any mitigating factors, although it noted that Mr Deeney argued that he should be categorised as retired as he had not gained any paid work; however, he would not have been considered to be retired under the CPD scheme for 2016/2017, as on 26 January and 4 February 2018 he said he had been available for work during that year. The level of fine imposed by the Panel reflects the failure by the Respondent to undertake the appropriate minimum CPD activity or apply for an exemption in the appropriate way, despite prompting by the IFoA. The Panel considered that this was a breach of the Respondent's obligations.
A copy of the Panel's full determination, including reasons for its decision, can be found on the IFoA's website at bit.ly/1OgDqKy