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Oliver Powell acts for former Private Client Director at Hampden in proceedings before Council of Lloyd’s


Date:



Oliver Powell acted for Mr Gregory White, former Private Client Director at Hampden Agencies Limited, in proceedings brought before the Lloyd’s Enforcement Board. Chloë Bell acted for Lloyd’s of London.

In proceedings brought before the Lloyd’s Enforcement Board, Mr Gregory White (‘Mr White’), former Private Client Director at Hampden Agencies Limited (‘Hampden’), has accepted one charge of discreditable conduct. This relates to his involvement in the facilitation of loans between members of the Society who were clients of his employer, in return for which Mr White received substantial sums as commission.

Background

At the material time, Mr White was a Private Client Director at Hampden, one of the members’ agents operating in the Lloyd’s market. The charge faced by Mr White stems from his relationship with a former client of Hampden, to whom Mr White introduced other members of Lloyd’s. Mr White was involved in facilitating a total of 16 loans from the latter to the former over a two year period, in respect of which he received commission totalling £221,168.

Sanction

Messrs Christopher and David Larkby accepted that they should not have disclosed the information and documents and by doing so breached their duties to their employer and the standards expected by Lloyd’s of an underwriter.

Mr White accepted, amongst other things, that he: conducted himself in a way which brought his personal and commercial interests into conflict with the commercial interests of his employer and clients of his employer; breached his fiduciary obligations to act in the best interests of Hampden clients by accepting commission payments; and acted in a manner which has or is liable to bring Lloyd’s and the Lloyd’s market into disrepute. Accordingly, Mr White accepted the charge of discreditable conduct brought against him. Mr White has been suspended from Lloyd’s business for a period of 17 months, censured, fined and ordered to pay costs.

For further information on this matter, please refer to the Lloyd’s Market Bulletin.

Counsel Instructed

Oliver Powell is ranked in both Chambers & Partners (UK) and The Legal 500 (in 4 practice areas). Oliver’s financial services practice focuses on banking disputes and financial crime. This predominantly includes: regulatory enforcement action taken by the FCA and Lloyd’s; internal investigations conducted by banks and financial institutions; and prosecutions brought by the FCA and SFO. Many of his cases have an international element, and usually involve allegations of dishonesty or breach of trust. As well as conducting contentious work, which sees him appear in the Commercial Court, Crown Court and regulatory tribunals, Oliver maintains a busy advisory practice, providing opinions on FCA and PRA regulatory issues; AML and economic sanctions.

Chloë Bell spent 3 months on secondment to the General Counsel’s Division of the Financial Conduct Authority in 2019. She gained significant experience of a number of areas of financial services law, particularly redress, pensions and unfair terms in consumer contracts. Chloë has a particular interest in cryptoassets and smart contracts in the financial services sphere. She has appeared as sole counsel in one of the first sets injunctions awarded by English courts on cryptoassets and has advised numerous clients on regulatory matters relating to cryptoassets.

Should you require further information about Oliver or Chloe, or if you would like to instruct him please contact Sam Carter, Business Development Director.


Barristers: Oliver Powell | Chloë Bell
Categories: News