Walz escapes ban in SFA deal
Tuesday 10 December 1996
Full details of the settlement could be published as early as today. Ms Walz was unavailable for comment yesterday, and the SFA would not confirm that a settlement had been reached.
Confirmation of the settlement would come barely a month after Ron Baker, her boss and the former head of derivatives trading at Barings, took the SFA to a tribunal and escaped a possible ban from holding a senior position in the City.
He was reprimanded and ordered to pay costs of pounds 7,500 over his supervision of Nick Leeson, the rogue trader who brought Barings to its knees. Ms Walz, however, is likely to face paying lower costs than those levied on Mr Baker.
The tribunal found in Mr Baker's favour in four of the five cases put before it by the SFA. He was given a public reprimand over the fifth charge concerning the supervision of Barings' proprietary trading.
Ms Walz, 36, an American who lives in London, last week failed in an industrial tribunal claim to be paid a pounds 500,000 bonus that had been promised to her by Andrew Tuckey, the former deputy chairman of Barings.
The bonus promise was made just 13 hours before the bank collapsed early last year due to losses of more than pounds 800m run up as Leeson bet the bank on the Asian markets.
- 4 #JeSuisEd: People share photos of themselves eating awkwardly in solidarity with Labour leader
- 5 Women think Irish men are the sexiest, survey finds
Italian police 'reveal' what Jesus looked like as a young boy
Mysterious 'X-Files' sounds heard miles above the Earth
Florida couple forced to register as sex offenders for having sex on public beach
Who should I vote for in the general election? Take The Independent's interactive quiz to find out which party is the right choice for you
General election: Conservatives mocked online over Boris Johnson's claim of SNP 'jockalypse'
In defence of liberal democracy
General Election 2015: Post-election 'shambles' looms as 70 per cent of voters say SNP 'should not be able to veto UK government policies'
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
General Election 2015: Sturgeon claims Scots 'appalled' by Ed Miliband's refusal to work with SNP
iJobs Money & Business
£60000 - £70000 per annum + benefits : Ashdown Group: A highly successful, glo...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£27 - 35k + Bonus + Benefits: Guru Careers: A Management Accountant is needed ...
£40-50k + Benefits.: Guru Careers: A Project Manager / Business Analyst is nee...