Lloyds TSB Faulted For Bad Bearer-Stock Security


London--Control faults at Britain's Lloyds TSB Bank meant there was bad security for bearer stocks held by the bank on behalf of customers over an 18-month period to December 1998.

The keys to the strongroom holding the bearer stocks - whose physical possession by an investor is the only proof of ownership - were not always under the control of the staff member to whom they were issued. Safe combinations were not changed at required intervals.

The Investment Management Regulatory Organisation

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here