The derivatives watchdog

Thomas Huertas, FSA director of wholesale firms, talks to Alexander Campbell

Since taking the helm of the UK Financial Services Authority's (FSA) wholesale firms division in September 2004, over-the-counter derivatives have been a major focus for Thomas Huertas. And as with some of his US counterparts, the backlog in trade confirmations has been at the forefront of concerns. Huertas says that with efforts to remove credit derivatives backlogs at an advanced stage, he is optimistic about making progress elsewhere, and his sights are firmly set on the equity derivatives