Summary

We’ve responded to the Institute & Faculty of Actuaries’ (IFoA) consultation on Diversity, Equity & Inclusion (DEI).  Like many other professional and supervisory bodies, the IFoA is proposing to update its Code of Conduct to (among other changes) require its members to encourage DEI. We are concerned this will result in further suppression of members’ free speech and expression, especially as the IFoA’s code of conduct has very broad application, including across parts of individual members’ personal lives. In our response, we highlight how the existing IFoA Code already contains extensive DEI provisions. If these new proposals were to be implemented, we fear the IFoA would be adopting an approach to DEI that risks scope creep from unclear or contentious definitions, and which itself lacks a diversity of views. Our experience at the FSU is that these kinds of DEI requirements lead to members being put through unnecessary and stressful disciplinary procedures.