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Revisions to Section 4600 of the Practice-specific Standards for Actuarial Evidence – Calculation of Criminal Rate of Interest – Notice of Intent

The mission of the Actuarial Standards Board (ASB) is to develop, establish and maintain Standards of Practice governing actuarial practice in Canada. An important part of the ASB’s role is to communicate effectively and efficiently with people or organizations that have, or may have, an interest in the work of the ASB.

The ASB has established a Designated Group (DG) to revise Section 4600 of the Standards of Practice to address a change to the definition of “criminal rate” in Section 347 of the Criminal Code (Part 4, Division 34) which received Royal Assent on June 22, 2023 but has not yet come into force.

Please note that this material applies to the actuarial evidence area of practice.

The deadline for comments is January 31, 2024. The DG and ASB are soliciting feedback on this notice of intent from members of the CIA, government representatives, and any other interested groups. Please send comments to Kelley McKeating and Chris Fievoli by January 31, 2024.

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Posted: January 15, 2024