The Institute and Faculty of Actuaries has arguably been acting ultra vires (exceeding its powers) for many years by disciplining former members, including students.
Please see https://www.reddit.com/r/Actuary_news/comments/11n17r8/the_institute_and_faculty_of_actuaries_has/.
There are subsidiary points (because the IFoA's disciplinary scheme has been very sloppily worded for many years).
But the essential point is that the Charter trumps the Bye-Laws which trump the Rules which trump the Regulations.
The Disciplinary Scheme is part of the Rules. Some of these mention former members which is how the IFoA tries to justify disciplining ex members (including students).
But bye-law 59 limits disciplinary action to Members. There is no mention of former members in that.
The new disciplinary scheme (proposed last year and which members voted to accept in October 2022) tidies up some of the poor wording but failed to address bye-law 59.
Please see https://www.reddit.com/r/Actuary_news/comments/11n17r8/the_institute_and_faculty_of_actuaries_has/.
There are subsidiary points (because the IFoA's disciplinary scheme has been very sloppily worded for many years).
But the essential point is that the Charter trumps the Bye-Laws which trump the Rules which trump the Regulations.
The Disciplinary Scheme is part of the Rules. Some of these mention former members which is how the IFoA tries to justify disciplining ex members (including students).
But bye-law 59 limits disciplinary action to Members. There is no mention of former members in that.
The new disciplinary scheme (proposed last year and which members voted to accept in October 2022) tidies up some of the poor wording but failed to address bye-law 59.