The scope of the Committee is matters relating to market conduct in areas in which members of ASSA are active.

“Market conduct” in relation to any entity means the entity’s pattern of behaviour in executing its product design, pricing and promotion strategies.

The objectives of the committee are:

• To actively support the development and thought leadership of actuarial practice in the context of Market Conduct through, where applicable, the development of Standards of Actuarial Practice (“SAP”) and Actuarial Practice Notes (“APN”), and the provision of CPD opportunities.
• To contribute to the strategic direction of the Actuarial Society from the perspective of Market Conduct and, in so doing, to support the Actuarial Society brand promise of “thought leadership”.
• To support the Financial Services Board, National Treasury and other relevant bodies, by providing actuarial input and being a two-way conduit in the development of regulation.

 

The Committee’s work includes monitoring developments in relation to Market Conduct from the perspective of the actuarial profession and interacting as appropriate with any Practice Area Committees, the Professional Matters Board or other ASSA structures.

We are also tasked with identifying risks to the profession, proposing strategies to manage those risks and bringing such matters to the attention of Council in relation to Market Conduct.

We will communicate on a regular basis with members on issues and developments affecting Market Conduct.

Other responsibilities include developing and maintaining appropriate links with other actuarial bodies, including the relevant IAA Section, and other relevant professional and industry bodies.