Full Form of ABCD:
Actuarial Board for Counseling and Discipline
ABCD Full Form is Actuarial Board for Counseling and Discipline. The actuarial organizations of the US established ABCD or Actuarial Board for Counseling and Discipline for strengthening adherence of its members to recognize the professional conduct and ethical standards. The primary function of the board consists of responding to the guidance request of actuaries on various professional issues. It is also responsible for considering complaints regarding the violation of the code of professional conduct issued by ABCD.
Many outreach efforts of educational nature are conducted by the members of ABCD. This includes writing articles for magazines and doing oral presentations for aiding regulators, actuaries and additional stakeholders in becoming familiar and comfortable with the work of ABCD. The ABCD provides counseling to actuaries regarding their activities related to their profession, and also acts as a mediator between members who are participating in the actuarial organizations.
There are 5 actuarial organizations of the US which have given authorization to the ABCD. This enables ABCD to investigate the issues related to the possible misconduct in the profession by the organization’s members. These organizations include the main AAA Academy or the American Academy of Actuaries, CAS or Casualty Actuarial Society, SOA or Society of Actuaries, ASPPA or Society of Actuaries and Pension Professionals and the Conference that consists of Consulting Actuaries. The jurisdiction of ABCD for investigating the violations is spread over in nations that house the members of these five organizations in the US. This same is not true for Canada. This jurisdiction is given to the CIA or Canadian Institute of Actuaries. The actuarial practice of the members of the CIA in the US is within the jurisdiction of the ABCD.