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The Actuaries' Code Principle 3 - Impartiality

Please note that the information contained on this page relates to one of the principles of the revised Actuaries' Code. The revised Code will come into force on 18 May 2019. The existing Actuaries' Code will continue to apply until then.

Principle 3 - Impartiality 

3. 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.

3.1  Members must take reasonable steps to ensure that they are aware of any relevant interests that might create a conflict.

3.2  Members must not act where there is an unreconciled conflict of interest.

The IFoA is developing non-mandatory Guidance to accompany the revised Code, which will include material on impartiality. 

The final version of the Guidance will be published by early Spring 2019 and will come into force at the same time as the revised Code (18 May 2019).

The IFoA's exsiting suite of guidance and other materials on conflics of interest was not reviewed as part of the Code review; a substantive review of this material will instead being carried out over the coming months. The updated guidance will be published in advance of the revised Code coming into force and will include material on how to identify conflicts of interest and how to manage them. 

In the meantime, you can access the IFoA's existing conflicts of interest package, which includes guidance for both actuaries and employers of actuaries. You can also access the IFoA's full suite of non-mandatory guidance

Read the revised Actuaries' Code

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