Barings was warned twice about disaster two warnings of disaster

The Independent - London | July 8, 1995| | Copyright

Bank of England and Singapore investigators into Barings are focussed on the crucial weeks leading up to the merchant bank's collapse and how management apparently failed to heed two clear warnings.

Beyond weaknesses in Barings' risk control systems underscored in the inquiries, questions are now being raised about how far some executives may have tried discreetly to respond to the warnings without alerting normal managerial channels.

Both warnings of grave irregularities in Barings' derivatives operation in Singapore, run by Nick Leeson, were given in January. The first came just seven weeks ...

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