ABCD highlights

The Actuarial Board for Counseling and Discipline (ABCD), which is housed at the Academy, was established by the U.S. actuarial organizations to strengthen members' adherence to the recognized standards of ethical and professional conduct. The ABCD responds to actuaries' requests for guidance on professional issues and it conducts inquiries into possible violations of the actuarial Code(s) of Professional Conduct.

As of Sept. 30, 2008, the ABCD had 16 inquiries in process, compared with 21 at the same time in 2007. Of those 16 cases, one was scheduled for a hearing, three were awaiting investigation, seven were in suspension, four were awaiting more information from the complainant, the subject actuary, or others, and one was pending finalization by the ABCD.

The ABCD resolved 14 cases during the first three quarters of 2008. Nine were dismissed, one was dismissed with guidance, one was counseled without a hearing following an investigation, one ended with a recommendation for private reprimand, one ended with a recommendation for public reprimand, and one was recommended for expulsion.

By Sept. 30, the ABCD had also received 29 requests for guidance during 2008, and it continued its educational outreach efforts throughout the year. ABCD representatives made educational presentations at actuarial meetings and continued to write "Up to Code," which appears in each issue of Contingencies magazine.

ABCD resources

ABCD publications and other resources related to counseling and discipline are available on the ABCD website.

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