The Review contest

Article Abstract:

MBf Unit Trust Managers' Mac Overton performed best of three fund managers making selections for Asia because he was able to find a safe haven in Pakistan. He achieved a 16.7% return on his choice, while Daiwa International Capital Management's Shunsuke Omae chose to focus on Malaysia and was hit by currency and stock price falls. HSBC Asset Management's Chung Man Wing focused on Hong Kong which was less affected than other markets in the region though stock prices have fallen. He achieved a 6% return.

Portfolio & Funds Management, Portfolio management, Asia

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Barings, 1762-1995

Article Abstract:

The collapse of the Barings bank heralds the end of an era of regulation that no longer is adequate to the market it attempts to oversee. Outside regulators are a poor panacea for companies that should be ensuring their own managers act responsibly, without relying on govt interference. Nick Leeson's destruction of his bank was also not the fault of derivatives, which simply follow principles in use for centuries. The speed of the markets and of the technology defeated the existing regulatory system.

Securities dealers, Laws, regulations and rules, Financial instruments

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Nicked: Barings trader goes to prison

Article Abstract:

Nicholas Leeson's sentencing to a Singapore prison leaves unresolved murky questions about his bosses' complicity and the role of regulation in the securities market. Some answers seem clear, such as that institutional incompetence allowed Leeson to sink his company, imposing an appropriate discipline on those at fault. Further sanctions and regulation may be inappropriate, though those opposing them should institute stronger internal measures to prevent the same thing from happening to them.

Bank Securities Brokerage, Editorial, Cases, Prevention, Securities industry, Securities fraud, Leeson, Nicholas W.

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