Lloyd's fine

Saturday 14 November 1998 01:02 GMT

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Lloyd's fine

LLOYD'S OF LONDON has fined and banned one of its managing agents after finding the firm guilty of 12 separate breaches of accounting by-laws.

Cuthbert Heath Underwriting was fined pounds 125,000 and ordered to pay pounds 90,000 in costs to Lloyd's after failing to disclose information and keep certain accounting records.

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