Hi, in April 2020 Q3 (i) , in the marking schedule , it mentioned the process of entering london market as corporate name : " we would need to set a corporate name and appoint a member's agent" it is contradict with the core readying , as in SP7 chapter 10 , one of the question is asking the difference between managing agents and member's agents , it mentioned that " members' agent advise private members on which syndicate to be subscribed and ... corporate members need not appoint members' agent" is answer in the marking schedule wrong or anything i have missed ? thank you
Well spotted! The Lloyd's website says that "Large company members of Lloyd’s are not required to have members’ agents. They may appoint a Lloyd’s adviser instead.", so it sounds like it's optional. I don't know the definition of 'large' though - perhaps someone at Lloyd's has a better idea than me....
As an interesting side note to this, there were only 4 members' agents as of 2018, which would make sense if they are acting for individual Names only.
