News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

China Central Bank Sets Up Panel to Study Fintech Sector

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China's central bank has set up a committee on financial technology, or fintech, in a bid to enhance its study of the industry, which includes online lending platforms.

SoFi President Nino Fanlo to Leave Firm for Biotech Startup

Nino Fanlo, SoFi's president and chief financial officer, is leaving the firm at the end of the month to take over as finance chief at Human Longevity Inc., a four-year-old genomics company.

Bitcoin Faces More Scrutiny After Global Hack

In the wake of a global wave of cyberattacks that demanded payment in bitcoin, new attention is being focused once again on the digital currency's role in hacking and illegal money movements.

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How Big Are Mutual Funds' Puerto Rico Losses? $5.4 Billion

The total red ink for mutual funds that invested in debt issued by Puerto Rico is as much as $5.4 billion over the last five years, according to a Wall Street Journal analysis of mutual-fund holdings and municipal-bond trades.

Chinese Banks Rattled by Regulatory Blitz

The past two months have been tumultuous for Chinese lenders as a new banking czar has unleashed a blizzard of new directives, uncovered a fraud scandal and issued heavy fines.

Global Finance Chiefs Reassured on U.S. Tax Plans

Finance chiefs from the world's largest industrialized economies sounded a note of cautious optimism this weekend on U.S. plans for a tax overhaul, and agreed to bolster the financial system against increasingly sophisticated cyberattacks.

Chinese, Western Banks' Battle for Dominance Reaches Bond Market

Chinese investment banks are bumping up against Western rivals as they compete to help mainland firms sell dollar-denominated bonds overseas.

Financial-Crimes Monitor to Share Records in Trump-Russia Probe

A Treasury unit that specializes in combating money-laundering will share financial records with an expanding Senate probe into possible ties between Russia and President Donald Trump and his associates.

Merrill Lynch to Halt Broker Recruiting

Merrill Lynch will temporarily stop paying top dollar to recruit experienced brokers, according to a person familiar with the matter, the latest brokerage to make changes to how it compensates brokers poached from rivals.

Citi Names Leaders for New Credit-Markets Group

Citigroup Inc. has tapped Mickey Bhatia and Carey Lathrop to be co-heads of a new group spanning credit trading and securitization, key cogs in its sprawling and growing fixed-income business.

(END) Dow Jones Newswires

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