Dear Karla,
Thanks. I am happy with the ASHK’s revised Professional Conduct Code.
Mit freundlichen Grüßen | Best Regards Guillaume Moussa
ERGO Group AG Economic Reporting & Optimisation / Life ERGO International ERGO-Platz 1 40198 Düsseldorf
Tel 0211 477-1987 [email protected]
Vorsitzender des Aufsichtsrats: Dr. Joachim Wenning Vorstand: Dr. Markus Rieß (Vorsitzender), Dr. Ulf Mainzer, Andree Moschner, Dr. Clemens Muth, Heiko Stüber Sitz: Düsseldorf, Handelsregister: Amtsgericht Düsseldorf, HRB 35978 Von: Karla Zuñiga
Dear Guillaume,
Following the review you undedertook of the Actuarial Society of Hong Kong’s code of conduct, please see below and attached (first document) the information on the missing provisions. For your convenience I am also attaching a copy of the criteria checklist you submitted with your review results.
Please do not hesitate to let me know if you need any further assistance.
Best regards,
Karla Zúñiga Administrator, Communications & Membership Administratice, Communications et adhésion
Tel: +1-613-236-0886, ext. 109 Fax: +1-613-236-1386 Email/Skype: [email protected] 1203-99 Metcalfe, Ottawa ON K1P 6L7 Canada www.actuaries.org
From: Pat Kum
Dear Sirs,
We are in receipt of an email from Ms Karla Zuniga informing us of changes requested to the ASHK Professional Conduct Code (PCC) effective 1 June 2017. When the current PCC was adopted our aim was to replace the former PCC, which had been adopted 20 years earlier, with a new, principle-based PCC. We reviewed the codes of conduct of the major international actuarial bodies and developed the current PCC. At the time, all the changes that the IAA is now requesting were considered. It was concluded that they were implicit in the revised PCC and so were not included explicitly.
Despite the foregoing, we respect the IAA’s review process and take seriously the comments you have made. We have therefore developed a revised PCC that addresses the points raised. Please see the attached version with tracked changes.
Under the ASHK’s By-Law on Due Process, in order to adopt the revised PCC, the following must occur: • The ASHK Council must approve exposing the revised PCC to the membership for a period of at least one month. Council approved the revised PCC on 14 March 2019. • The revised PCC must then be exposed for comments. This was done on 22 March 2019 with a comment deadline of 1 May 2019 (see email below). • The Council must then vote to recommend adoption to the membership. I expect this to happen at the May Council meeting scheduled for 20 May 2019. • The revised PCC must them be adopted at the Annual General Meeting which will be held in December 2019. Please let us know if you have any questions or comments and please confirm that the above is acceptable to the IAA.
Thank you and have a good day.
Sincerely,
Peter Duran Chairperson of Professional Matters Committee The Actuarial Society of Hong Kong 1803 Tower One, Lippo Centre, 89 Queensway, Hong Kong T: (852) 2147 9278 | F: (852) 2147 2497 E: [email protected] | W: www.actuaries.org.hk
From: ASHK
Dear ASHK Members,
In 2017 the ASHK adopted a revised, principle-based Professional Conduct Code (PCC). The PCC was reviewed by the International Actuarial Association, which has asked that we make certain parts of it more specific. The proposed revised PCC is attached. Aside from the effective date, which is proposed to be 1 January 2020, there are four additions proposed to the current PCC. They are:
1. A Member must act honestly, with integrity, in the interest of his/her client, and in accordance with the profession’s responsibility to the public. (Added to section 4.1) 2. A Member shall co-operate with others serving his/her client. (New section 4.2.4) 3. A Member shall consider whether it is appropriate to consult any predecessor actuary to ensure there are no professional reasons to decline taking on a new assignment. (New section 4.2.5) 4. A Member shall disclose promptly to his/her client any other sources of material compensation or income related to any service provided for the client. (New section 6.2.6)
As required by the ASHK By-Law on Due Process, this Exposure Draft is being circulated to the membership for review and comment. Comments are due by 1 May 2019. Please send your comments to [email protected]. The Professional Matters Committee will review and respond to all comments received. It is then expected that the Council will adopt the revised PCC. It will then be submitted to the membership for approval at the Annual General Meeting in December 2019.
On Behalf of the ASHK Professional Matters Committee,
Peter Duran Chairperson of Professional Matters Committee The Actuarial Society of Hong Kong 1803 Tower One, Lippo Centre, 89 Queensway, Hong Kong T: +852 2147 9278 | F: +852 2147 2497 E: [email protected] |W: www.actuaries.org.hk