Ex-Barings chief faces tribunal

Complaints have been laid against the chartered accountant over his responsibilities in relation to the management of Barings Future (Singapore) Limited during the period in which rogue trader Nick Leeson’s activities brought about the end of the UK’s oldest merchant bank.

An independent tribunal will be appointed to hear the complaints. If it upholds them, the tribunal has the power to impose a fine or a period of disqualification.

The complaints also include matters relating to the accuracy of statements made by him in a representation letter to Deloitte & Touche during the 1993 audit and the 1994 internal audit report into BFS.

Complaints have already been laid against former deputy chairman of the Barings Group, accountant Andrew Tuckey, for failing to ensure Leeson’s activities were properly monitored.

Coopers & Lybrand in August appealed against a JDS Tribunal finding over its role as auditor of Barings. Findings against two of the firm’s partners, who also faced the Tribunal, are also awaited.

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