The ABCD’s charter is set forth in the American Academy of Actuaries’ bylaws, and may be amended by a vote of the Academy membership.
Article X of the Academy’s bylaws provides that the ABCD, within its jurisdiction, is authorized:
- To consider all complaints concerning alleged violations or information suggesting possible violations of the applicable Code(s) of Professional Conduct and all questions that may arise as to the conduct of a member of a participating actuarial organization in the member’s relationship to the organization or it members, in the member’s professional practice, or affecting the interests of the actuarial profession.
- To counsel actuaries concerning their professional activities related to the applicable Code(s) of Professional Conduct in situations where the ABCD deems counseling appropriate.
- To recommend a disciplinary action with respect to an actuary to any participating organization of which the actuary is a member.
- To mediate issues between members of participating actuarial organizations, or between such members and the public, for the purpose of informally resolving issues concerning the professional conduct of such members.
The five main U.S. actuarial organizations have authorized the ABCD to investigate reports of possible professional misconduct by their members, to recommend counseling or disciplinary action when appropriate, and to respond to requests for guidance. The five participating organizations are:
- The American Academy of Actuaries (the Academy)
- The American Society of Enrolled Actuaries (ASEA)
- The Casualty Actuarial Society (CAS)
- The Conference of Consulting Actuaries (the Conference)
- The Society of Actuaries (SOA)
The ABCD’s jurisdiction to investigate alleged violations extends to the actuarial practice of the five U.S.-based organizations’ members in every country. By virtue of agreement between the five U.S.-based organizations and the Canadian Institute of Actuaries (CIA), the CIA has jurisdiction to investigate actuarial practice of the participating organizations’ members in Canada; similarly, CIA members’ actuarial practice in the United States can be investigated by the ABCD.
- ABCD Rules of Procedure