Codes of Conduct: How are they Working?

In 2020, the Actuaries Institute (AI) in Australia introduced a principles-based Code of Conduct which replaced rules-based codes of professional conduct first established in 1975. We share what we’ve learnt from this transition with our international colleagues, and hear about developments in other jurisdictions.

Two years after the implementation, the AI Code of Conduct Guidance Group will be seeking the views of a range of members and governing bodies in the AI to get feedback on its effectiveness and outcomes.

Has the principles-based approach helped or hindered how we work? Have the concerns around its implementation become a reality? What challenges have been faced in interpreting the principles of the Code? What improvements would we make if implementing it today?