FSA SUPPORTS HAMPDEN BID TO TRADE NAMECOS INVESTMENTS

Lloyd’s members agency Hampden Agencies has been cleared by UK regulator the Financial Services Authority (FSA) to begin buying and selling investors’ interests in the market’s NameCos, or individual limited liability vehicles. NameCos have been available since 1994 and all new Lloyd’s members have been obliged to participate on this basis since 2003. Hampden currently acts for more than 500 NameCos, and the clearance it has received means that investors can now purchase an existing NameCo or sell their interest without have to wait for the standard three-year accounting period before results are determined.