The news agency also reports that commodities trader has registered as a swap dealer with the U.S. derivatives regulator, a sign that new financial-stability rules have started impacting firms well outside Wall Street.
Cargill is the first major non-financial company to acquire the status of 'swaps dealer' on the registry of the National Futures Association (NFA), which lists the biggest players in the $630 trillion market.
The SEC on February 15th sued 'unknown' traders over suspicious trading of Heinz’s options through what the regulator said was an account at Goldman Sachs. The SEC will ask a federal judge in Manhattan at a hearing set for today to freeze the account’s assets until the case is resolved. The New York-based bank told the agency the account holder is a Zurich private-wealth client, the SEC said in a court filing.
The Financial Times reports that Reyl & Co, the Swiss private bank, has opened an office in London with a view to setting up a corporate advisory business, highlighting how a clutch of smaller banks are pushing into traditional investment banking activities.
The Geneva-headquartered bank has initially hired three bankers in London but is targeting to turn the London office into 'the second centre of gravity' for the group in the next five to 10 years, its chief executive François Reyl told the newspaper.
Finally, Bloomberg reports that Toronto-Dominion Bank has awarded Chief Executive Officer Edmund Clark $10.7m in 2012, a 4.4% decrease from a year earlier.
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Cargill joins Wall Street banks as swap dealer
Goldman Has No ‘Direct Access’ to Data on Heinz Account
Swiss bank Reyl & Co opens London office (subscriber content)
Toronto-Dominion Reduces CEO Edmund Clark’s Pay to $10.7 Million
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