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  #781  
Old 06-01-2017, 01:07 PM
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Originally Posted by tbakos View Post
Essentially the Academy argues the following:

I understand that the Academy is trying to defend itself but should it ever have allowed this to go as far as it has. They were wrong. They should have admitted it straight up and done everything in their power to fix the mess they caused.
I agree Tom - however, there may be a push to defend because of liability exposure/insurance coverage issues.

Plus the fact I doubt we will see senior people rushing to say "we handled this situation badly and have decided to settle and hence will stump up $$$ from your dues". They almost always fall back on the legal outcome. "Our hands are tied by the court's decision."
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  #782  
Old 06-01-2017, 01:09 PM
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IANAL, and I don't know all the facts except what's been put forth in this thread, but it seems to me, if post 774 is the sum and substance of the academy's motion, then it has failed to address anything that sharpe's team said in the rebuttal (post 768 above)
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  #783  
Old 06-01-2017, 02:11 PM
homeys66 homeys66 is offline
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There is good reason why our disciplinary process should be conducted confidentially and always, in the past, has been.
Is this standard in other professions? Like if a random lawyer/doctor or even Business X gets customer complaints and needs to be reviewed by some authority....and word gets out to the public and Business X loses customers......they automatically get compensation for this? Seems weird.
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  #784  
Old 06-02-2017, 11:35 AM
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Originally Posted by Shaft View Post
I agree Tom - however, there may be a push to defend because of liability exposure/insurance coverage issues.

Plus the fact I doubt we will see senior people rushing to say "we handled this situation badly and have decided to settle and hence will stump up $$$ from your dues". They almost always fall back on the legal outcome. "Our hands are tied by the court's decision."
I was suggesting that immediately upon becoming aware of the Wirepoint article disclosing the ABCD recommendation to expel and long before a lawsuit, the Academy should have initiated action to mitigate the problem created by this confidentiality lapse. Somebody screwed up the whole confidentiality thing.

That would have, not only helped Sharpe through this mess but assured the rest of us that the Academy actually had OUR best interests in mind.

Instead, the Academy did nothing in, approximately a year except wait to be sued.

Brilliant!
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  #785  
Old 06-02-2017, 11:44 AM
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Originally Posted by homeys66 View Post
Is this standard in other professions? Like if a random lawyer/doctor or even Business X gets customer complaints and needs to be reviewed by some authority....and word gets out to the public and Business X loses customers......they automatically get compensation for this? Seems weird.
I haven't studied other professions in great detail but it has seemed to me that the actuarial profession's disciplinary process is well organized and structured (until, perhaps, until now).

Nearly all actuaries work for one of the 5 participating actuarial professional organizations and, therefore, have something to lose (their standing in the organization, for example) if they do something discipline worthy.

Doctors and lawyers are licensed (the Academy never succeeded in achieving that for actuaries - maybe a good thing), and so professional organizations to which they may belong are not as effective at controlling behavior. An exception for actuaries is the Enrolled Actuary status which is a license, in effect, provided by the federal government and it has its own discipline process (which, in the Sharpe case has not been applied).

On your last point, "compensation" for unfairly impacting the livelihood of a professional is far from automatic
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  #786  
Old 06-18-2017, 01:02 PM
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All gone quiet again.

The wheels of justice turn slowly.
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  #787  
Old 07-06-2017, 03:55 PM
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All gone quiet again.

The wheels of justice turn slowly.
I'm expecting the next and last thing we hear may be "There was a settlement, the terms are secret"
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  #788  
Old 07-06-2017, 09:00 PM
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Settlements should never be secret.
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  #789  
Old 07-07-2017, 11:48 AM
pragmatist pragmatist is offline
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Quote:
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Settlements should never be secret.
That really is the parties' choice. A settlement can depart from the default clause of confidentiality if the parties so agree.

A general prohibition on confidentiality would have a "chilling effect" on how parties settle, when in reality courts are much more interested in "judicial economy".
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  #790  
Old 07-07-2017, 03:14 PM
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Settlements should never be secret.
It's worth asking whether AAA members have the right (or should) to know the terms of a settlement by their own organization.

Bruce
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