Recent difficulties in the long-term
savings markets, concerns over pensions provisions and the
Equitable Life saga have placed the actuarial profession in the
spotlight. The regulatory and disciplinary regime has been revamped
and there is now closer scrutiny of the profession. Inevitably,
this has led to an increase in the number of negligence claims and
disciplinary charges brought against actuaries.
Our team has an in-depth
understanding of professional liability and conduct issues faced by
actuaries (whether practising in the life or non-life spheres) and
benefit consultants. We advise various parties on a wide range of
related matters including:
- in respect of corporate pension schemes, whether generally or
in the context of M&A deals or corporate restructuring;
- scheme valuation and administration;
- pensions advice concerning occupational schemes, funding
strategies, and deficit correction;
- life assurance companies;
- monitoring of life schemes, reporting to the insurance board,
and surplus distribution;
- investment management and strategy;
- risk management of investment schemes;
- financial reporting and the use and accounting treatment of
financial reinsurance; and
- conflicts of interest.
We are frequently instructed by
leading actuarial practices and have acted on many high-value (and
often high-profile) claims, including NRG v Bacon, as well
as playing a central role in the Equitable Life litigation
(including the Penrose Inquiry).
We are also ideally placed to advise
on disciplinary proceedings against professionals in the pensions
field. We have unrivalled expertise in defending professionals
against disciplinary charges generally, a sound understanding of
actuarial guidance and professional obligations, and we are highly
experienced at managing the difficulties which often arise where
related civil and disciplinary proceedings are on foot at the same
time.
Our experience also includes
advising on compliance issues (including preparation for FSA
visits), risk management, and the "whistle-blowing"
obligations imposed on actuaries and consultants.
Meet our people
For information on members of this team and partners in our affiliated undertakings who work in this area, please click on the link below.
Publications
Read some of our recent articles, client newsletters and other publications.