The big U.S. actuarial organizations have come out with a joint proposal for changing the system for disciplining actuaries.
The groups participating in the effort are the American Academy of Actuaries, Washington; the College of Pension Actuaries at the American Society of Pension Professionals & Actuaries, Arlington, Va.; the Casualty Actuarial Society, Arlington; the Conference of Consulting Actuaries, Long Grove, Ill.; and the Society of Actuaries, Schaumburg, Ill.
The groups have sent members a letter that includes a comparison of the current disciplinary process and the process the groups want to adopt.
“After a review of the profession’s current discipline procedures, the leaders of our five organizations concluded last year that our current structure is fundamentally sound,” the groups say in the letter. “But after being in place for many years, several potential improvements have been identified. These changes aim to improve efficiency and provide greater consistency, and we believe that they will benefit the members of all our organization.”