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The Actuaries' Code Principle 1 - Integrity

Principle 1 - Integrity

1. Members must act honestly and with integrity.

1.1 Members must show respect for others in the way they conduct themselves.

1.2 Members should respect confidentiality.

Members of the IFoA are expected both by the profession and the wider community to demonstrate high standards of behaviour. This means acting honestly and with integrity at all times. Behaviour out with a Member’s professional life can also have a bearing on the profession and the principle therefore applies to a Member’s personal life too.

Find out more in our Guidance on the Integrity Principle of the Actuaries’ Code. You can read the Guidance online, download a copy, or view the questions below which will take you to the corresponding part of the Guidance:

What is Integrity?

What do you mean by integrity?

What type of behaviour do I need to consider?

Does the IFoA expect me to act with integrity outside my actuarial role?

Applying the principle to your work

How do I act with integrity in my daily work?

How does integrity affect my interaction with colleagues, clients and anyone else?

Does respecting others restrict the freedom to voice my opinions?

Duty of confidentiality

What is the duty of confidentiality?

How do I know what information is confidential?

In what circumstances is it justified to disclose confidential information?

Where can I find more guidance on the interaction between the duty of confidentiality and the duty of disclosure?

Where can I find more guidance on the relation between confidentiality and conflicts of interest?

 

Contact Details

For further information contact:

code@actuaries.org.uk

Regulation Team, The Institute and Faculty of Actuaries, Level 2, Exchange Crescent, 7 Conference Square, Edinburgh, EH3 8RA

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Events calendar

  • Finance in the Public Interest Series

    16 March 2021 - 23 March 2021

    Spaces available

    There is widening debate that many of our social, financial and regulatory institutions need to be rethought so that we can create more sustainable futures, particularly in light of the Covid-19 pandemic, the policy/macro-economic response to the pandemic and how it affects consumers, as well as the impending climate crisis. This multi-day series of three keynote webinars, individually presented by leading economist John Kay, Sir Paul Collier, Professor of Economics and Public Policy at the Blavatnik School of Government, Ashok Gupta, Chair at Mercer Ltd, and Nico Aspinall, Chief Investment Officer at B&CE, will open up discussion on these essential topics. The series will culminate in a panel session with Chief Economist of the Bank of England, Andy Haldane.

  • The price is righter

    16 March 2021

    Spaces available

    This webinar provides an overview of the state of the UK protection market, and how different insurers are using different levels of sophistication to price (such as using customer demand models). It considers how insurers have implemented these sophisticated pricing techniques, and the practical challenges they have faced.

  • Spaces available

    This discussion will revolve around the latest industry developments including and introduction to Part VII transfers and Schemes of Arrangement (process, parties involved and recent events), insights and lessons from recent with-profits transactions and restructurings (including Equitable Life and Pru-Rothesay), how firms can apply these learnings to future arrangements, and the outlook for future with-profits transactions and restructurings (including the impacts of Covid-19 and Brexit)

     

  • Spaces available

    What is stewardship and how has the landscape changed under the 2020 UK Stewardship Code? How does effective stewardship create long term value for beneficiaries and what roles do asset owners and asset managers play in active stewardship. This webinar will offer answers to these questions in a practical approach to stewardship reporting.

  • Spaces available

    Mis-estimation risk is a key element of demographic risk, and past work has focused on mis-estimation risk on a run-off basis.  However, this does not meet the requirements of regulatory regimes like Solvency II, which demands that capital requirements are set through the prism of a finite horizon like one year.  This paper presents a value-at-risk approach to mis-estimation risk suitable for Solvency II work.