News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

AIG's Credit Rating Affirmed by A.M. Best

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American International Group's credit rating was affirmed by A.M. Best, removing a potential roadblock to the firm's ability to boost profits.

Fiduciary Rule Defies the Odds and Lives On

The Labor Department's landmark retirement-savings rule is set to take effect in 2 1/2 weeks, a move that underscores the difficulty the Trump administration is encountering in undoing Obama-era financial regulations.

Budget, Staff Cuts Ahead for Financial Regulation and Research Agencies

The Office of Financial Research, an agency created by the 2010 Dodd-Frank law, is implementing a "staffing streamlining effort" according to budget documents released by the U.S. Treasury Department.

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Morgan Stanley Joins Rivals in Curbing Broker Recruiting

Morgan Stanley will curtail its recruiting of veteran brokers, joining other big firms on Wall Street that are no longer willing to gorge on the pricey practice of paying top-dollar to poach talent.

Bitcoin's Unlikely Evangelist: Fidelity CEO

Fidelity Investments Chief Executive Abigail Johnson championed the growth of bitcoin and other alternative currencies in a speech Tuesday, a rare vote of confidence by a major player in the financial world.

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.

China Probes High-Ranking Bank Regulator

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.

Market Regulator Requests Modest Budget Increase

The Commodity Futures Trading Commission is requesting a modest increase in funding for the 2018 fiscal year, a departure from Obama administration's requests for significant boosts to the market regulator.

After a Brief Respite, REITs Resume Decline

Shares of real-estate investment trusts have slumped this year as a postelection sugar rush wears off.

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.

(END) Dow Jones Newswires

May 23, 2017 16:15 ET (20:15 GMT)