Meaning of misconduct
Misconduct means –
(a) engaging in or being associated with or conspiring with another person to engage in discreditable conduct, whether or not connected with the business of insurance;
(b) conduct that is detrimental to the interests of the Society, members, underwriting agents or Lloyd’s policyholders or others doing business at Lloyd’s;
(c) (save in respect of a contravention or failure prescribed under [2.(a) in Consolidated Requirements Part 2 > General Operational Matters > Enforcement > Administrative Fines] a contravention or failure to observe –
(i) any provision of Lloyd’s Acts 1871-1982;
(ii) any requirement of the Council including any byelaw; or
(iii) any direction or order of the Enforcement Board, an Enforcement Tribunal or the Appeal Tribunal.