Barings casualties face fines and City blackballing

The Independent - London | July 20, 1995| | Copyright

A top securities industry watchdog warned former Barings' executives yesterday they could face being banned from the City and fined under its wide-ranging disciplinary powers. "There are a lot of names in the Bank of England report, and plenty of criticism of massive incompetence. We shall be looking very closely at what went on," said Richard Farrant, chief executive of the Securities and Futures Authority.

A difference of opinion among regulators also emerged yesterday over the extent of responsibility for the fateful concession allowing limitless funding to be sent by Barings bank to its ...

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