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"The second edition of this book is essential reading for anyone involved in the Lloyd's market. Over two years on from the FSA taking responsibility for the regulation of Lloyd's, it explains the FSA's role and the practical implications and experiences to date in dealing with the two-tier regulatory regime."
- Cheryl Ronaldson, Partner, Norton Rose
The Financial Servies At confirmed that Lloyds would be subject to external oversight from the Financial Services Authority. This will provide independent, external validation of the Regulatory Division's activities.
The relationship between Lloyd's and the FSA is opne of the more confusing of the FSA's regime. With both Lloyd's and the FSA retaining some powers, it is essential for anyone connected with the Lloyd's market to have a thorough understanding of the egulatory powers of both and the interation between them.
Contents of A Practitioner's Guide to the FSA Regulation of Lloyds
Foreword
Sean McGovern, Lloyd’s
Authorisation of Lloyd’s Underwriting Agents
David Whear, Norton Rose
FSA Principles and High Level Requirements
Stephen Browning, Barlow Lyde & Gilbert
Supervision Part 1- the supervisory approach
Cheryl Ronaldson, Norton Rose
Supervision Part 2 – monitoring and control
Cheryl Ronaldson, Norton Rose
Enforcement
Nicholas Munday, Clifford Chance LLP
Solvency Requirements and Related Issues
Tony Hulse, KPMG LLP
Complaints and Compensation
Susan Dingwall, Norton Rose
Lloyd’s Brokers
Trevor Newbery, Ernst & Young LLP
Reviews of A Practitioner's Guide to the FSA Regulation of Lloyds
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