Notice of Disciplinary Determination

On March 31, 2026, the Society of Actuaries convened a Discipline Committee to review a matter referred by the Actuarial Board for Counseling and Discipline ("ABCD"). The matter related to services provided by Ms. Wei Zhao, ASA, MSEA, of CAC Pension, 111 Deerwood Road, Suite 325, San Ramon, CA 94583, in connection with her performance of professional services as an Enrolled Actuary (“EA”) for various clients from April 2023 through October 2023.

The ABCD found that Ms. Zhao failed to renew her EA status and falsely represented multiple professional credentials on her company website. In doing so, the ABCD concluded Ms. Zhao had violated several Precepts of the Code of Professional Conduct, including performing services without appropriate qualifications, misrepresenting credentials, and failing to cooperate with the ABCD’s investigation.  The matter was subsequently referred to the SOA for disciplinary review.

An SOA Discipline Committee, based on careful review of the ABCD’s Findings and Recommendations, found material violations of Precepts 1, 2, 11, 12, and 14 of the Code of Professional Conduct.  The Committee concluded that the violations warranted a public reprimand of Ms. Zhao, as well as suspension from SOA membership as an ASA until such time as she successfully repeats the Associateship Professionalism Course (APC) and fulfills the Society of Actuaries’ Continuing Professional Development (CPD) requirements.  The Committee’s hope and expectation is that these prerequisites to reinstatement as an ASA will be completed within a year’s time.  These requirements are intended to reinforce the integrity of the actuarial profession, the obligation to serve the public interest, and the necessity for actuaries to remain current in their professional knowledge and skills through ongoing education.   

All members of the SOA are reminded to adhere to the Code of Professional Conduct and that, when they are faced with potential issues regarding professional conduct, to consider contacting the ABCD for counseling.