29 February 2024
Following last year’s consultation on how we formalise diversity, equity, and inclusion (DEI) in our regulatory framework, the IFoA’s Regulatory Board has begun engagement on the proposed supporting guidance to the Actuaries’ Code.
Last year’s consultation on the Actuaries’ Code sought views from members, employers, regulators, and other key stakeholders, on how we formalise DEI in our regulatory framework. The Regulatory Board carefully considered all the consultation responses, using this feedback to redraft proposed changes to the Code before publishing planned changes to the Actuaries’ Code in July 2023.
Some respondents to the consultation on the Actuaries’ Code raised concerns relating to the application of the new Code provisions. To address these matters, supporting guidance is being prepared.
The guidance will support the principles and amplifications in the Actuaries’ Code. It has been designed to help members better understand the nature of their obligations under the Code and how to apply them in practice.
The IFoA Regulatory Board has already begun engaging with stakeholders, including IFoA Council – the elected members of Council reflect the diversity of viewpoints and experiences of our global membership. The Board is also engaging with the IFoA Diversity Action Group for its feedback.
When the draft guidance is ready for consultation, it will be published on the IFoA website. The consultation will be launched once the draft guidance has been published and will be widely advertised.
As a member led organisation, it is important to us that we understand our members’ views and any concerns around the Code changes and its practical implications. Therefore, the consultation will be open for 8 weeks.
During the consultation we will be hosting webinars, where members can learn more and ask questions about the draft guidance. Once the consultation closes, we will collate all feedback for review by the Regulatory Board.
We would like to encourage you to take part in the consultation when it opens. It is important to us that your views shape the support and guidance you need to apply the Actuaries’ Code.