Half-time score rr here were, he says, three tasks: to
restore confidence in Lloyd's as an institution; to help set up the new systems of self-regulation laid down in the Act; and to make Lloyd's better managed. The third, clearly, is the hardest. Confidence might have been. But, says Mr Hay Davi- son: 'There has been no loss of confidence in a Lloyd's policy, and no loss of business to the market.' Whitehall and the Bank are less tense. What, though, of the members' confidence — and what about those who so greedily abused that confidence? Lloyd's has more members than ever, and the queue to join is one-third longer than it was a year ago. But the queue of those going through Lloyd's disciplinary proces- ses is longer, too, and painfully slow- moving. Mr Hay Davison has to be as patient as his nature allows. 'My job is not to punish people,' he says. 'My job is to clean up the market. There's no question about the will to clean up . . If, after that, people have cases to answer at the civil or criminal bar, that will be another story — though not, evidently, a story he would be sorry to hear told.
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