Notice of Disciplinary Determination

On October 9, 2018, the Society of Actuaries (“SOA”) convened a Discipline Committee to review a matter referred by the Actuarial Board for Counseling and Discipline ("ABCD"). Following deliberations, the Discipline Committee expelled Patrick E. Sutherland from the SOA for material violations of the Code of Professional Conduct (“Code”), specifically Precept 1, effective October 26, 2018.

On September 17, 2015 the Grand Jury for the Western District of North Carolina returned a Bill of Indictment against Mr. Sutherland, alleging a tax fraud and obstruction of justice scheme. A jury found Mr. Sutherland guilty of all counts. On June 21, 2017, a U.S. District Judge sentenced Mr. Sutherland to 33 months in prison, followed by three years of supervised release.

The Discipline Committee reviewed and discussed the materials and exhibits relating to Mr. Sutherland’s conduct.  The SOA Discipline Committee determined that through his repeated, premeditated filing of fraudulent tax returns and providing false documents and information to the federal government and the ABCD, Mr. Sutherland materially violated Precept 1 of the Code.  Mr. Sutherland’s conduct resulted in public harm and reflects adversely on the actuarial profession and his fitness to serve as an actuary. 

Given the SOA’s role within a self-regulating profession, the Discipline Committee believes that the personal and professional integrity of actuaries is vital.  As such, the Discipline Committee expelled Mr. Sutherland from the SOA for his material violations of the Code’s professional and ethical standards.

All members of the SOA are reminded of their responsibility to follow the Code of Professional Conduct.   

1 Precept 1: An Actuary shall act honestly, with integrity and competence, and in a manner to fulfill the profession’s responsibility to the public and to uphold the reputation of the actuarial profession.