Explanation:
All of the statements are correct except for the one relating to the Singapore Stock Exchange. Nick Leeson was eligible to trade on this exchange.
(Book 1, Module 9.2, LO 9.a)
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Question 25
Between 1993 and 1995, Nick Leeson's trading activities resulted in significant losses and forced Barings into bankruptcy. Which of the following actions would have been least likely to prevent the bankruptcy of Barings Bank?
A
Information on account gains and losses being more transparent.
B
Management being more suspicious of huge reported profits.
C
All traders being required to meet Singapore Stock Exchange standards.
D
A system of checks and balances being established to detect wildly speculative positions.
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