Barings Banks was established in 1782 and was the oldest merchant in London. In 1995, theBank was made bankrupt due to massive losses incurred by one of its traders, Nick Leeson.Required:1) Give a brief background of who Nick Leeson is.2) Describe Nick Leesons roles and responsibilities in the Bank, from the firsttime joining the Bank until its collapse in 1995.3) Explain what Nick Leeson had done and the events resulting in the collapseof the Bank?4) What internal controls were lacking that could have prevented the Bankscollapse?5) Trading in derivative products resulted in the collapse of Barings Bank.Such trading practices should therefore be banned. Discuss whether youagree or disagree with the statement.FOR MORE INFORMATION ON THE TOPIC VISIT
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