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PROFESSIONALISM
ASB Adopts ASOP No. 40 Revision
 The Actuarial Standards Board (ASB) of the Academy adopted a revision of Actuarial Standard of Practice (ASOP) No. 40, now titled Compliance with the NAIC Valuation of Life Insurance Policies Model Regulation with Respect to X Factors. The ASOP will be effective for all statements of actuarial opinion provided for reserves with a valuation date on or after Sept. 15, 2024.
June Webinar to Focus on ABCD Case Studies
The Academy’s next professionalism webinar, ABCD Requests for Guidance-Insight and Case Studies, will feature Actuarial Board for Counseling and Discipline (ABCD) Vice Chairperson Al Beer and ABCD members Tammy Dixon and Cande Olsen discussing case studies brought to light by recent requests for guidance (RFGs). Continuing education (CE) and continuing professional education (CPE) core ethics credits under the Joint Board for the Enrollment of Actuaries (JBEA) rules will be available at the live webinar, which will be held on Monday, June 3-register today.
Professionalism Outreach
Academy General Counsel and Senior Director of Professionalism Brian Jackson delivered an in-person professionalism presentation Tuesday to the Actuaries Club of Philadelphia. “You Are the Fulcrum of Self-Regulation” reviewed the basic structures and key elements of U.S. actuarial professionalism and how they work together to form a framework housed in the Academy, such that professional standards are largely implemented and enforced by actuaries themselves rather than by entities outside the profession.
Professionalism Resources
An Academy member email sent Wednesday offers a recap of the latest professionalism resources, including Contingencies‘ Professionalism in Focus page. For more, visit the Academy’s Professionalism webpage.
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