New criminal inquiry set in Barings report's wake
Article Abstract:
The Singapore Finance Ministry's Commercial Affairs Dept. announced that it will conduct a new criminal investigation on the collapse of Barings PLC. The department made the announcement after a separate investigation concluded that two Barings executives' actions hindered the prevention of the bank's collapse. The investigation accused former Barings investment arm CEO Peter Norris of suppressing information regarding financial shortfalls in Nicholas Leeson's operations. It also charged Barings Singapore branch head James Bax of encouraging Leeson to provide falsified reports to auditors.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
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The twilight of British colonial rule casts shadows on the Hong Kong Club
Article Abstract:
The Hong Kong Club has served as a symbol of British rule over the colony since it was founded in the 1840s. The club's character is now changing as the date for Hong Kong's return to Chinese control approaches. Old-time members who joined the club when the British Empire still existed now lament the steady departure of friends and the growing number of women and Chinese members. It has also been superseded by the China Club as Hong Kong's premier social venue and for many local residents, the Hong Kong Club has simply lost the relevance it once enjoyed.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1996
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Closer cooperation among regulators needed, says Large
Article Abstract:
UK Securities and Investments Board Chmn. Andrew Large believes that regulatory authorities around the world should increase their collaboration if another disaster similar to the Barings PLC incident is to be prevented. Large stated that the Barings debacle could have been avoided if regulators had worked together to establish a more secure financial environment. He stressed that regulatory efforts may sometimes prove to be inadequate when confined to a single jurisdiction.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
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