FSA bans four over Sphere Drake binder case
UK regulator, the Financial Services Authority (FSA) has announced that it has prohibited John Hubert Whitcombe, Jeffrey Ronald Butler, Nicholas Brown and Christopher Reginald Colin Henton for their dishonest involvement in reinsurance business that funneled very significant losses into Sphere Drake.
In a statement the FSA said that Mr Henton and Mr Whitcombe were underwriters and Mr Brown and Mr Butler were brokers. Working together in the 1990s they wrote reinsurance business under a binding
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