MGAA revised Code of Ethics

On the 19th February, 2019 the Executive placed in front of MGAA members the revised code of ethics for their approval and acceptance.

The new code was adopted, without objection.

The new Code is an evolution of the old – retaining most of its duties and responsibilities, closely following the CII Code of Ethics but allowing flexibility for change and simplifying the structure of the Code.

These changes which are made in light of the associations experience since the start of the MGAA, in September 2011, and are intended to modernise and simplify the code.

They have involved significant input from the legal profession and are intended to ensure that the Code operates as intended.

Enforcement

The new Enforcement process brings a more structured, formal and defined process that is fairer to the member being investigated whilst protecting the MGAA and its members from undue “process” and expense.

The new Enforcement process includes:

  • Confirmation that former members are subject to the process
  • Broader empowerment to deal with “frivolous” or minor matters “otherwise not appropriate for further action.”
  • Deleting the “ban” in the present Code on a member seeking Judicial Review (as it was felt likely to be ineffective)
  • The appointment of an Investigator who will present evidence to Conduct &Ethics Committee (but will not play a part in C&E decision)
  • Time limits which are indicative not strict
  • Submission of evidence procedure which is sequential with the Member presenting after the MGAA
  • Representation of the Member at hearing by officer “or otherwise”
  • Decision of C&E Committee + recommendations to Board
  • Penalties: suspension, expulsion or continuing membership to be subject to conditions
  • Board to make and communicate a provisional decision to Member who may request review by way of Notice of Challenge before Final decision of Board
  • Publicity: power (but not obligation) to publicise and report (and for the individual – where appropriate to comply with his / her reporting obligations) to regulator.

We would encourage all members, and their staff, to read the code to understand the position that the MGAA and its board has taken in this respect

Code of Ethics for MGAA Members available for download