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The Actuaries' Code

The Actuaries’ Code is the ethical Code of Conduct that all Members of the IFoA must adhere to. It came into force on 18 May 2019.

The Code has six principles. 

  1. Integrity – Members must act honestly and with integrity.
  2. Competence and care – Members must carry out work competently and with care.
  3. Impartiality – 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.
  4. Compliance – Members must comply with all relevant legal, regulatory and professional requirements.
  5. Speaking up - Members should speak up if they believe, or have reasonable cause to believe, that a course of action is unethical or is unlawful.
  6. Communication – Members must communicate appropriately.
     

Read the full Code
 

Who does the Actuaries' Code apply to?

The Actuaries’ Code applies to all members of the IFoA

When does the Actuaries' Code apply?

The Code applies at all times to all Members’ conduct in relation to an actuarial role.

The Code also applies to all Members’ other conduct if that conduct could reasonably be considered to reflect upon the profession.

How does the Actuaries' Code apply?

If you have any questions about your obligations under the Actuaries' Code you may wish to submit your query to the Professional Support Service.

Failure by a Member to comply with the ethical requirements set out in the Code may lead to disciplinary proceedings under the IFoA’s Disciplinary and Capacity for Membership Schemes.

Guidance

The IFoA has developed non-mandatory Guidance to support the principles and amplifications in the Actuaries' Code. It has advice for members to help them better understand the nature of their obligations under the Code and applying it in practice.

Access the guidance

Download our guidance as a PDF
 

Download the guidance as a PDF
 

Training and education

The Professional Skills Training webinars and videos touch on various aspects of the Code and are available to watch through the VLE

Support

If you have any questions about the Code, you can contact the IFoA's Regulation Team

Contact Details

If you have any enquiries about the Actuaries' Code please email

regulation@actuaries.org.uk

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