Institute of Actuaries disciplinary scheme (effective 1 January 2004)
Institute Disciplinary Scheme 2004. This disciplinary scheme replaces the 1995 scheme. It is a mirror scheme to that of the Faculty so that, for the first time, members of both bodies face the same disciplinary processes. Though for legal reasons the schemes have to be separate legal entities, the same people will carry out roles under each scheme. The scheme is designed to reflect recent development in human rights legislation, and enable speedier resolution of the less serious cases. There is lay participation at every stage and as wider range of penalties including remedial measures for cases of proven incompetence.