All professions are experiencing an increased level of complaints about non-adherence to professional standards: medics, accountants and lawyers are affected as well as actuaries. The Morris Report remarked favourably on the changes the UK Actuarial Profession made to its disciplinary schemes from 1 January 2004. However, the level of awareness amongst the profession of the content and implications of the Professional Conduct Standards (PCS), which is generally the basis of any potential misconduct that causes a disciplinary action, is less than appropriate.

It is thought that it would be helpful to members if PCS case studies were produced setting out actuarial dilemmas. When reading the case studies please think about how the circumstances and issues can be translated to be relevant to your own circumstances.

The profession, through the Professional Guidance Committee (PGC),

• provides assistance to members in the interpretation of, and compliance with, professional guidance; and
• responds to confidential enquiries from members about professional guidance issues, including the interpretation and application of the PCS.

If you have a query, please contact Fiona Goddard, Secretary to the Professional Guidance Committee, (tel: 0131 240 2302, e-mail fiona.goddard@actuaries.org.uk) or Richard Maconachie, Secretary to the Professional Affairs Board (tel: 0131 240 1301, e-mail richard.maconachie@actuaries.org.uk). Please note that such contact will not preclude disciplinary action if a complaint is received.

• Case Study One
• Case Study Two

Additional information

• PCS awareness survey results [pdf]
• Are you always professional?