Lloyd’s has begun a consultation as it looks to modernise and streamline its approach to dealing with poor conduct and behaviours in the market including both financial and non-financial misconduct.
The consultation paper Lloyd’s: A Modern Framework For Dealing with Poor Conduct and Behaviour in the Market, comes as the market admitted its current processes for dealing with issues of poor conduct “can be unclear and may cut across firms’ own intervention processes”.
It added “there also needs to be greater certainty as to potential outcomes”.
Outlining its objectives, Lloyd’s said it wanted to:
Ensure better alignment with firms’ own internal HR and disciplinary processes, supporting firms’
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