News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Virtu CEO Aims to Be the Good Guy of High-Speed Trading

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High-frequency trading firms are often cast as villains. Virtu Financial Chief Executive Douglas Cifu is determined to be seen as one of the good guys.

Screws Tighten on Risky Chinese Insurance

In China, lucrative bets are usually followed by a regulatory clampdown. So it was only a matter of time before China's acquisitive and unlisted life insurers started feeling the pain.

Trump Administration Asks for Time to Deliberate MetLife Case

The Trump Administration said it would consent to delay of a court case involving federal oversight of MetLife Inc., a move that could potentially give it time to drop the government's case against the company.

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Jay Clayton Sworn In to Lead SEC

Jay Clayton was sworn in as chairman of the Securities and Exchange Commission, becoming the Trump administration's first permanent head of a financial regulatory agency.

Appeals Court Rejects Former Lehman Employees Bid to Collect

A federal appeals court ruling Thursday dealt a setback to a group of former Lehman Brothers employees trying to collect on some $300 million in restricted stock awards rendered worthless when the investment bank filed for bankruptcy.

Goldman Fund Agrees to Buy 12% of Riverstone Holdings

A Goldman Sachs Group Inc. fund has agreed to pay about $500 million for a roughly 12% stake of Riverstone Holdings LLC, one of the world's largest energy investment firms.

Monte dei Paschi Swings to Quarterly Loss

Troubled lender Banca Monte dei Paschi di Siena SpA swung to a net loss for the first quarter, hurt by declining revenue and one-time costs, as it struggles to right itself.

House Panel Approves Plan to Undo Parts of Dodd-Frank

The House Financial Services Committee launched a Republican-supported rollback of Obama-era financial regulations, voting along party lines for a plan to undo significant parts of the 2010 Dodd-Frank law.

Fidelity International Launches Fund in China for Wealthy Mainland Investors

Fidelity International has launched its first fund for wealthy mainland Chinese to invest at home, a milestone for major foreign fund managers that are just starting to set up shop there.

Mexican Antitrust Regulators Fine Pension Fund Managers

Mexico's antitrust commission said it fined four pension fund management firms and 11 individuals a combined $58 million for making agreements to limit transfers of retirement accounts from one manager to another, restricting competition in the market.

(END) Dow Jones Newswires

May 05, 2017 07:15 ET (11:15 GMT)