28 August 2024
The IFoA has opened a consultation on draft guidance to support proposed Diversity Equity and Inclusion (DEI) changes to the Actuaries’ Code.
As a member led organisation, it is important to the IFoA to understand Members’ views around proposed Code changes and their practical implications.
As part of the IFoA’s commitment to ensure that any changes made to the regulation of Members is proportionate, consistent, transparent and targeted, we are running a consultation on proposals for publication of guidance to support proposed DEI changes to the Actuaries’ Code.
Member responses to last year’s consultation on introducing specific DEI obligations into the Actuaries’ Code provided us with valuable insight into the considerations and concerns of some Members regarding the proposed amendments to the Actuaries’ Code.
Having carefully considered this feedback, alongside input from IFoA Member groups including Council, IFoA Regulatory Board have drafted supporting guidance to help members understand how to meet their professional and regulatory obligations in relation to DEI under the Actuaries’ Code.
The draft guidance includes practical examples of how the proposed requirements would apply in practice.
This consultation is a valuable opportunity to give feedback on any parts of the draft guidance that may be unclear and highlight whether there are any areas where Members continue to be unsure of the IFoA’s professional expectations.
The consultation will be open for nine weeks from 28 August. You can read the proposal and share your views by visiting our consultation web page.
We will be hosting webinars on the 19 September and 8 October where Members can learn more and ask questions about the draft guidance.
We have listened to Member feedback on elements of the proposed amendments to the Actuaries’ Code that were problematic and we have amended our proposals to remedy these issues.
You can view the revised proposal on our consultation web page.
We hope you find the amended proposals to introduce DEI obligations into the Code, together with the guidance, to be clear and helpful.
Once the consultation closes, we will collate all feedback for review by the IFoA Regulatory Board.
Regulatory Board will consider all feedback on the draft guidance, including feedback relating to the planned amendments to the Actuaries’ Code. The Board will give full consideration of all views received before finalising any Code changes or introducing any guidance in respect of DEI.
We would like to encourage you to take part in this consultation to ensure your views shape the guidance to support the DEI provisions in our regulatory framework.
Please take part in this important consultation and share your views on this proposal.