SECURITIES

Nicholas Leeson Formally Charged With Fraud, Forgery: In his court appearance in Singapore, the former Barings trader did not enter a plea or request bond. He is now confined in a maximum-security cell. The 28-year-old Briton is accused of faking documents to hide unauthorized stock gambles that resulted in $1.4 billion in losses for the 232-year-old British bank, sinking it. Leeson could face 14 years in prison if convicted. Leeson’s next court appearance is set for Dec. 1, when a trial date may be picked. The trial could begin as early as late December, Leeson’s lawyer said.