Notice of Disciplinary Determination
The SOA's Committee on Discipline (COD) reviewed a referral from the Actuarial Board for Counseling and Discipline (ABCD) and determined to impose discipline on Gerald J. Rankin, FSA. Mr. Rankin appealed that determination and on Aug. 21, 2008, the SOA's Appellate Tribunal unanimously voted to uphold the COD's determination and to publicly reprimand Gerald J. Rankin for material violations of:
- Precept 1 of the 2001 SOA Code of Professional Conduct (2001 Code);
- Precept 13 of the 2001 Code and Precept 14 of the 1993 SOA Code of Professional Conduct (1993 Code);
- Precept 14 of the 2001 Code.
Violations of Precept 1 related to inaccurate statements made in some letters to insurance departments. Violations of Precept 13 related to Mr. Rankin's failure to make the ABCD aware of work performed by another actuary that Mr. Rankin believed was not performed in accordance with the 1993 Code and/or the 2001 Code. Violations of Precept 14 related to Mr. Rankin's failure to cooperate fully with the ABCD investigator.
All members of the SOA are reminded that when they are faced with potential issues regarding professional conduct, the ABCD is available for counseling.