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Lunchtime Links: 2,000 traders will have to go through the FSA’s certification process


The Financial News has picked up an interesting story related to the FSA’s newfound scariness: under rules to be enforced from January, it says 2,000 proprietary traders will need certification from the FSA as people with ‘significant influence’ over their firm.

We’ve reported on this before, but the 2,000 figure is new and may prove troubling to anyone likely to cross the FSA’s path. Financial News reports that nine people applying for ‘significant influence’ jobs have withdrawn their applications since October as a result of the regulator’s new stance.

FSA has been discouraging European banks from opening London branches. (Telegraph)

Lord Turner of Ecchinswell is expected to be offered a senior role at the Bank of England should the Conservatives win. (The Times)

Britain's banking crisis: how it happened. (The Times)

UK cash machines monitored every hour during banking crisis. (The Times)

Equity capital market revenues of $14.3bn (€9.7bn) are 22% higher than in 2008. (Financial News)

Blackstone in listing spree. (Financial Times)

Goldman looking at giving bonus money to charity and having Blankfein give frequent friendly interviews. (CNBC)

UBS finishes rebuilding its portfolio trading team. (Wall Street Journal)

A growing number of commodities traders have been departing Wall Street banks to join trading houses, oil companies and hedge funds. (Financial Times)

Moelis hires three restructuring bankers from Close Brothers. (Financial News)

Barclays shifting another £4bn in assets off its balance sheet. (Alphaville)

Gordon Brown to sell pathetic homemade wooden things. (DailyMash)

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