The FSA may have its own ideas about how to discipline brokers and insurers who fail to meet contract certainty by the end of the year.

But one former broker, who this week likened the London market to a flock of sheep, believes the best way to get the industry into shape is with "a bloody good sheep dog and a large stick".

Backchat wonders whether Lord Levene has borrowed a few of the entry requirements for the BBC's One Man and his Dog in his search for a new chief executive.

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