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IFoA News

DISCIPLINARY TRIBUNAL Mr Mark Theaker

Open-access content Wednesday 6th October 2021

On 20 July 2021 the Disciplinary Tribunal Panel considered a charge of misconduct against Mark Theaker (the respondent), in the absence of the respondent.

The IFoA’s charge against the respondent was that he acted as chief actuary to Company A without holding the relevant Practising Certificate, in breach of: paragraph 3.1 of Actuarial Professional Standard G1 (APS G1); paragraph 2.1 of APS G1; and paragraph 1.1 of the IFoA’s Practising Certificate Scheme. He also allegedly failed to fully co-operate with the investigation, in that he failed to supply information, evidence and/or explanations when requested to do so, in breach of Rule 4.15 of the IFoA Disciplinary Scheme. His actions were alleged to be in breach of the compliance principle of the Actuaries’ Code and to constitute misconduct in terms of Rule 4.2 of the Disciplinary and Capacity for Membership Schemes of the IFoA.

The panel found all of the elements of the charge proved and that this was a case of misconduct. It was determined that the appropriate and proportionate sanction was a fine of £2,000 and exclusion for a period of three years.

Find a full copy of the published determination at: bit.ly/IFoA_Determinations

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This article appeared in our October 2021 issue of The Actuary .
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