Barings in 1995- Bank of England indicated, nay confessed that it had missed as Nick Leeson manipulated.
Two decades later, England's regulators and supervisors seem to grope in the darkness of a skill hall bearing stamps of inadequacy.
Look at the the banks for whom the Old Lady of Threadneedle street and other bodies are home supervisors:
HSBC caught up in money laundering and tax evasion charges ;
Barclays caught up in FX manipulation
Barclays, Royal Bank of Scotland : LIBOR Fixing
Lloyds Banking Group : Insurance misselling
There is a discernible gap between the supervisor and the supervisee.
England expects every man to do his duty. (Admiral Nelson during Napoleonic Wars)
Without any risk or responsibility
Two decades later, England's regulators and supervisors seem to grope in the darkness of a skill hall bearing stamps of inadequacy.
Look at the the banks for whom the Old Lady of Threadneedle street and other bodies are home supervisors:
HSBC caught up in money laundering and tax evasion charges ;
Barclays caught up in FX manipulation
Barclays, Royal Bank of Scotland : LIBOR Fixing
Lloyds Banking Group : Insurance misselling
There is a discernible gap between the supervisor and the supervisee.
England expects every man to do his duty. (Admiral Nelson during Napoleonic Wars)
Without any risk or responsibility
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