The Actuaries' Code
The Actuaries' Code applies to all our members, which for this purpose means anyone subject to the disciplinary scheme of the Institute and Faculty of Actuaries. The Code consists of principles which members are expected to observe in the public interest in order to build and promote confidence in the work of actuaries and in the actuarial profession.
When does the Code apply?
It applies at all times to members' conduct in their work as actuaries and is taken into consideration where members' conduct in other contexts could reasonably to reflect on the Institute and Faculty.
How does it apply?
Breach of the Code is not of itself grounds for disciplinary action. However, where an actuary's conduct is called into question, the Code takes into account any determination of whether there has been "misconduct" within the terms of our disciplinary scheme.
Since the Code is not a set of rules, conduct that apparently falls short of it does not necessarily constitute "misconduct" within the terms of our disciplinary scheme.
We have created some non-mandatory resource material for you in the form of questions and answers and case studies based on queries received about the Code. If you are interested in reading some case studies which deal with some of the Code's provisions they can be found here.