Lloyd's and the Lloyd's Market Association have issued joint guidance to managing agents clarifying aspects of market bulletin Y4567. The guidance stresses regulatory concerns over the potential for unusual remuneration or profit commission arrangements to fall foul of the Bribery Act. It notes the guidance does not say these arrangements must never happen, but that managing agents should regard them as high risk, treat them with great caution and take legal advice where appropriate. (Source: Lloyd's Clarifies Remuneration Arrangements and Bribery Act)