Derivs - People and Markets

The U.K. Financial Services Authority is being pressed to not regulate structured product pricing by industry groups who argue there is no evidence to back intervention.

Rabobank has hired Christian Lawrence, a fixed income and currency strategist at RBC Capital Markets in London, as an emerging market fx strategist, also in London.

David Naville, director and head of fx structuring Asia Pacific at Barclays Capital in Hong Kong, has been promoted to managing director covering fx structuring for investment banking and corporate distribution.

The full facts remain elusive but, according to the MF Global bankruptcy trustee, some USD1.2 billion may be missing from MF Global’s segregated customer account.

Developed-market sovereigns in the eurozone have driven the rebound in global credit default swap liquidity, led by France, Spain and Austria, according to Fitch Ratings.

The International Swaps and Derivatives Association has named the members of its new Industry Clearing Committee and has announced the group’s goals.

The U.S. Securities and Exchange Commission has approved a 6% on fees broker-dealers must pay the Public Company Accounting Oversight Board, which oversees audits of the firms.

Michael Fitzgerald is said to be leaving as head of U.S. prime-brokerage sales at Morgan Stanley.

Goldman Sachs has promoted Isabelle Ealet, its global head of commodities, to co-head its securities division with Pablo Salame and Harvey Schwartz.

LCH.Clearnet said new regulations are making it more expensive to do business but sources said it is not planning on passing on costs to its members at the current time, though it may do so in the future.

Royal Bank of Scotland is to slash an additional 3,500 investment-banking jobs as it faces a deteriorating economic outlook and new financial regulations.

A proposed implementation of the Volcker Rule may have passed a Commodity Futures Trading Commission vote on Wednesday, but two Commissioners and a handful of market participants are questioning the timing and form of the proposals.