FAQ – Rules of Professional Conduct (2026 Consultation)
1. What are the Rules of Professional Conduct?
The Rules of Professional Conduct set out the ethical and professional standards that members of the Canadian Institute of Actuaries are required to follow. They cover areas such as integrity, competence, professional behaviour and responsibility to the public interest.
2. Why are the Rules being updated?
The Rules are being reviewed to ensure they remain clear, current and effective in a changing practice environment. In general, the changes focus on clarity and structure, not on introducing fundamentally new obligations. Some specific amendments address issues raised by the Actuarial Profession Oversight Board (APOB) to further clarify and elaborate on Rule 5 and the CIA’s conflict-of-interest guidelines, particularly related to volunteer work. Another specific amendment to Rule 13 gives the actuary more reliance on personal judgment when it comes to discussing non-compliance with another actuary.
Actuarial practice continues to evolve, and these updates are intended to make expectations clearer, modernize language and support consistent application across different roles.
3. What do the proposed changes mean for members?
The changes are intended to provide greater clarity rather than alter the day-to-day practice of members. The Rules will continue to rely on professional judgment, application of Standards of Practice and context-specific interpretation. Supporting guidance has also been developed to help members better understand and apply the Rules in practice.
4. Are the Rules becoming more restrictive?
No. The scope of the Rules is not changing. The Rules are principles-based, meaning they set expectations rather than prescribing detailed rules for every scenario. A principles-based approach:
- Recognizes that not every situation can be defined in advance
- Emphasizes professional judgment as a core part of actuarial practice
- Supports consistent expectations across evolving areas of work
5. Do the Rules limit professional debate or personal expression?
No. The Rules are not intended to suppress debate or differing views. They are designed to ensure that discussions – even when there is disagreement – are conducted with professionalism, respect and integrity in a way that maintains confidence in the profession.
6. Why are terms like “client” and “professional services” being changed or reconsidered?
The proposed changes reflect how actuarial practice has evolved. Actuaries today work in many different contexts, such as being employees (without traditional clients), in multidisciplinary teams, in volunteer roles, and in roles that influence public policy or internal decision-making. The updated terminology helps ensure the Rules apply consistently across these different roles. It does not fundamentally change the scope, interpretation or application of the Rules.
7. Does the broader definition of “professional services” mean anything I say could be subject to the Rules?
No. The Rules are applied in context and rely on professional judgment. They are intended to apply when professional expertise is being used and relied upon, and where the reputation of the profession may be influenced by the actions of a member. It would not apply to informal or everyday personal interactions unrelated to the professional judgment of a member, where the reputation of the profession would not be harmed.
8. Would informal advice or sharing an opinion be considered “professional services”?
No. That is not the intent. “Professional services” is intended to capture situations where actuaries are applying professional expertise, and where their specialized training, experience and professional judgment are being relied upon. It would not apply to informal or everyday personal interactions unrelated to the professional judgment of a member, where the reputation of the profession would not be harmed. Everyday conversations, expressing general opinions or having informal discussions are not the focus of the Rules.
9. Why move away from a strict definition of “client,” including paid or unpaid relationships?
The traditional concept of “client” does not fully reflect the practice of actuaries today. For example, actuaries may work within organizations with multiple stakeholders, produce work used by various audiences, have responsibilities that extend beyond a single client relationship, or provide actuarial services in a professional volunteer capacity. The updated approach reflects a more accurate description of “professional services,” while also maintaining clear expectations for professional conduct.
10. Does removing or redefining “client” reduce protections for those relying on actuarial work?
No. The Rules continue to require integrity and competence, appropriate disclosure and transparency, management of conflicts of interest, and responsibility for how work may be used. These expectations apply regardless of whether the relationship is described as a “client” relationship.
11. How do I know if the Rules apply in a specific situation?
The key considerations are:
- Are you acting in a professional capacity?
- Could your professional judgment or actions reasonably be relied upon?
- Could your conduct affect public trust in the profession?
If uncertainty remains after reviewing available guidance, consulting with others, or seeking clarification, members are advised to err on the side of integrity.
12. How are the Rules enforced?
The CIA has an established disciplinary process that applies the Rules fairly and with due process. This process is rigorous and well-defined, and it is intended to support professionalism and public trust, not to enforce uniformity of opinion.
13. Does every concern raised lead to an investigation or disciplinary action?
No. Any complaint or information received by the Professional Conduct Board (PCB) is reviewed carefully to determine whether it falls within the scope of the Rules. Where appropriate, an investigation may be undertaken to gather relevant facts and evidence, with decisions based on the information available and the application of the Rules.
Not all matters move forward, and outcomes vary depending on the circumstances, ranging from no further action to educational guidance or, in more serious cases, referral to a disciplinary tribunal. This approach helps ensure that responses are proportionate and grounded in the specific facts of each situation.
14. How are more complex or unclear situations handled?
The Rules are principles-based, which means that some situations require professional judgment. In these cases, the PCB considers the specific facts, context and potential impact on public trust and the profession when determining next steps. This structured, case-by-case approach is intended to ensure that matters are assessed carefully and fairly, rather than through rigid or automatic outcomes.