Didn't want to be the first to say, but I'm not aware of a "Required once around the hold" either. Perhaps you usually did as part of your training?
HOWEVER,you shouldn't be APPROACHING a hold at 280 (In fact, for starters, shouldn't you be 250 below FL100?
The reversal procedure should have been flown at 210kts, so a diplomatic statement like "It's 210 Max in the procedure captain" would have been appropriate. if no or inadequate response, then perhaps a more assertive "Captain you must slow down" would have been the next step.