I forgot I had done a blog post, incorporating much of the timeline:
Post is from September 2018:
SOA AND CAS TO MERGE?
This basically came out of nowhere. Well, not nowhere.
ACTUARIAL ORGS REMOVED FROM STANDARDS-SETTING BODY
Now, this is an interesting one. The SOA & CAS are “educational” actuarial bodies — they provide the exams, credentials, etc. — and while they are U.S.-dominated, they operate internationally.
Then there’s the AAA (American Academy of Actuaries), which is the U.S.-only organization of actuaries, and it is usually the body that testifies to Congress, works with regulators, etc.
There’s the ASB – Actuarial Standards Board – which sets the ASOPs (Actuarial Standards of Practice).
LET THE SUN SHINE IN
And here’s my last actuarial brou-ha-ha (for now): the secrecy surrounding meetings of the AAA board, ASB, etc.
Again, I think this is something surrounding the proposed standards changes in pensions. While I think the ASOP changes are a good idea, it needs to be done in a transparent way.
There are other disputes ongoing (which I didn’t even address) about qualification standards for P/C actuaries (which was a semi-expected fallout after the SOA had tried to make its own P/C credential, and got thwarted by CAS… and maybe this will become moot with a merger between organizations, but the people questioning qualifications now are the regulators at the NAIC. Great work, guys!)
Hey guys, you know what you could do to dispell the impression that you’re trying to hide stuff? You could record it. And put it online. It’s cheap and easy. Just put them on YouTube, and if you’re concerned about comment, you can block comments on your channel and videos.
If you don’t want them that public, you’ve already got the machinery to post video on the site so that only members can see it — I know, because I access members-only stuff often enough.