The Jimmy Simpson trophy was presented to the ACU by Arthur Birkett, to be presented to the rider making the fastest lap during the Junior, Lightweight and Senior TT races.
It was first presented in 1948 to Omobono Tenni (Senior) with replicas to Freddie Frith (Junior) and Maurice Cann (Lightweight). Not sure if the 'other class' replicas are still presented.
Photo of Arthur Birkett, Jimmy Simpson and the trophy is in TT Heroes, written by Mike Savage.