Abbey National controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
Back to profile2 entries
1995
Abbey National Baring Derivatives difficulties
Abbey National Baring Derivatives was taken down in the wider failure of Barings Bank. The episode was associated with deficiencies in regulation and control surrounding the activities of Nick Leeson and exposed governance risks in derivatives operations.
1989
Undelivered share certificates discovered after demutualisation
The demutualisation process was affected by the discovery of a substantial number of undelivered share certificates held at an external contractor’s premises and awaiting destruction. The episode highlighted operational and control weaknesses during the conversion to a listed company.