Hastings boss censured by Lloyd's over detrimental conduct
Neil Utley, chairman of Hastings Direct, has admitted to charges of detrimental conduct during his time at Equity Red Star.
Mr Utley stepped down as chief executive of IAG UK, Equity’s parent company, by "mutual consent" in July 2010.
He has been censured by a Lloyd’s enforcement tribunal over his alleged failure to take reasonable steps to ensure that there were sufficient systems and controls, including the maintenance of an adequate standard of documentation, in relation to certain aspects of its reserving processes.
He was also censured over an alleged failure to take reasonable steps to ensure that the board was
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