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IAI Actuarial Core Principles · Business Management · Professionalism and ethics case studies

An actuary is asked to speak at an industry seminar about a client's pension scheme funding position, using details not yet public. Which action best respects confidentiality and disclosure obligations?

The actuary should stick to public information or general principles unless the client has consented to disclosure. Client information is confidential, and neither an audience of professionals, partial anonymisation of an identifiable scheme nor an Institute-run venue removes the duty or substitutes for client consent.

  1. AShare the details, because seminar audiences are made up of professionals
  2. BShare the details after removing only the client's name, even if the scheme is easily identifiable
  3. CDiscuss only publicly available information or general principles, unless the client has given consent to disclose the confidential detailsCorrect
  4. DShare the details and ask attendees to keep them confidential
  5. Share the details if the seminar is organised by the Institute

Explanation

Client information is confidential unless the client consents or law requires disclosure. Using public information or general principles protects the client. Merely removing a name is inadequate if the scheme is identifiable, and asking attendees for secrecy does not create consent.

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