To Tell or Not to Tell? Unpacking Precept 13

“Violations of the Code of Professional Conduct—Precept 13. An Actuary with knowledge of an apparent, unresolved, material violation of the Code by another Actuary should consider discussing the situation with the other Actuary and attempt to resolve the apparent violation. If such discussion is not attempted or is not successful, the Actuary shall disclose such violation to the appropriate counseling and discipline body of the profession, except where the disclosure would be contrary to Law or would divulge Confidential Information.”

When I first read Precept 13, I was astonished that there was a requirement for me to report another actuary to the Actuarial Board for Counseling and Discipline (ABCD) for his or her mistake. Worse, if I didn’t report the actuary, another actuary might report me for not reporting the first actuary.

Learn more here.

Up to Code - January/February 2018, By Rick Block


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