A legal battle against Lloyd's gives rare view: long odyssey thrusts U.K. insurance member into unfamiliar terrain

Article Abstract:

Richard Tropp, an individual American investor in a Lloyd's of London underwriting syndicate, has sued the insurer over the Lloyd's Act of 1982, which has been used to prohibit the filing of lawsuits against Lloyd's by its investors. Tropp, whom Lloyd's alleges owes money on claims, asserts the law applies to Lloyds strictly in its public capacity as an insurance market regulator, not as a private commercial entity.

Government regulation (cont), Government regulation, Legal/Government Regulation, Fire, marine, and casualty insurance, Cases, Laws, regulations and rules, Property and casualty insurance industry, Lloyd's of London, Covenants not to sue, Tropp, Richard

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Diamond group widens probe of bribe charges

Article Abstract:

An internal investigation continues by the Gemological Institute of America into bribery allegations. The worlds largest grader of diamonds has fired four employees and severed business ties with a small group of diamond dealers that it suspected of bribing employees for better grades on diamonds.

United States, Gem Diamonds, All Other Nonmetallic Mineral Mining, Miscellaneous nonmetallic minerals, Bribery, Jewelers' materials & lapidary work, Diamond industry, Gemological Institute of America

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Hedge fund GLG is probed on role of a star trader

Article Abstract:

The hedge fund GLG Partners L.P. of the United Kingdom is under investigation by European authorities for alleged securities fraud. The focus of the investigation is on Phillipe Jabre a star trader who aided in building the $11.5 billion fund.

United Kingdom, Europe, Management investment, open-end, European Union, Securities fraud, Mutual fund industry, Jabre, Phillipe

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