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Conflicts of interest

Conflicts of interest is one of the key regulatory areas for the Institute and Faculty of Actuaries (IFoA) and its members

The Actuaries' Code (“the Code”) has six principles which Members are to comply with in order to build and promote the confidence in the work of actuaries and the actuarial profession.

These six principles are:

  • Integrity
  • Competence and care
  • Impartiality
  • Compliance
  • Speaking Up
  • Communication

As one of the six key principles of the Code, impartiality is placed in sharp focus and states that:

“Members must ensure that their professional judgement is not compromised, and cannot reasonably be seen to be compromised, by bias, conflict of interest, or the undue influence of others.”

The IFoA's conflicts of interest materials includes:

 

Additionally, the IFoA has a mandatory pension Actuarial Profession Standard (APS) which includes a specific conflict of interest provision:

The IFoA has also previously produced case-studies focusing specifically on conflicts of interest:

Please note that these case-studies have yet to be updated in line with the Actuaries’ Code and revised Conflicts of interest Guide for Members

Also, previous practice-specific presentations on conflicts of interest may also be of interest:

Contact Details

If you have any enquiries about non-mandatory guidance please email

regulation@actuaries.org.uk

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