The ABCD

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 standards of practice and 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, 2010, the ABCD had 19 inquiries in process, compared with 44 at the same time in 2009. Of those 19 cases, six were awaiting investigation; one was in suspension; 10 were awaiting more information from the complainant, the subject actuary, or others; and two were pending finalization by the ABCD.

The ABCD resolved 19 cases during the first three quarters of 2010. Thirteen were dismissed, one was dismissed with guidance, two ended with a recommendation for private reprimand, and three ended with a recommendation for suspension.

The ABCD continued its educational outreach efforts throughout the year. By Sept. 30, it had received 40 requests for guidance. ABCD representatives also made educational presentations at actuarial meetings and continued to write Up to Code, which appears in each issue of Contingencies magazine.