News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

China Probes High-Ranking Bank Regulator

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China Banking Regulatory Commission Assistant Chairman Yang Jiacai has become the latest Chinese financial figure caught up in President Xi Jinping's long anticorruption campaign.

Blackstone Is Taking Over Mom-and-Pop Real Estate Investing

Blackstone in January launched its first nontraded real-estate investment trust, a vehicle marketed to small investors as a way to participate in the commercial real-estate industry without the volatility of a traded REIT.

Greek Bonds: A Great Investment, If Anyone Actually Traded Them

In theory, Greek bonds would be a great investment but barely anyone trades it, even with yields at a three-year low.

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Alexa's New Avatar: Financial Adviser

While it is early days in the co-mingling of wealth advice and sophisticated sciences, tools such as voice recognition, quantitative analysis and artificial intelligence stand to play a bigger role in an industry that has proved ripe for digital disruption.

'Fiduciary' Rule to Take Effect June 9 as Review Continues

The retirement-savings regulation known as the fiduciary rule will take effect June 9 without further delay, Labor Department Secretary Alexander Acosta said Monday.

Fed's Evans: Large Clearing Firms Need Access to Central-Bank Safety Net

Chicago Fed President Charles Evans said it is important for large financial-market clearing firms to have access to the safety net that central banks can provide.

'Still a Question Mark' Around Full Employment, Fed's Brainard Says

It's too soon to declare victory on the labor market's recovery from the recession despite recent improvements, Federal Reserve governor Lael Brainard said Monday.

Citi Settles With DOJ Over Money Laundering

Citigroup has agreed to pay less than $100 million to settle a yearslong money laundering investigation, the bank and government agencies announced Monday.

Citigroup to Tap Nasdaq for Blockchain Payment Technology

Citigroup Inc. and Nasdaq Inc. are partnering to match up the blockchain with real money.

Only Robots Can Tally What the Largest U.S. Pension Fund Pays in Fees

The nation's largest pension plan has 380 people overseeing $320 billion in assets. But when one of its top officials was asked during a board meeting how much in performance fees was paid to private-equity managers, he had to acknowledge no one knew.

(END) Dow Jones Newswires

May 23, 2017 11:15 ET (15:15 GMT)