News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Supreme Court Deals Setback to SEC on Recovering Illegal Profits

Continue Reading Below

The Supreme Court dealt a defeat to Wall Street's top cop, ruling that the Securities and Exchange Commission is subject to time limits when requiring companies or individuals to forfeit ill-gotten gains from fraud.

Pimco Threatens to Scuttle Novo Banco Sale

Pacific Investment Management Co., or Pimco, and other bondholders in troubled Portuguese lender Novo Banco are threatening to derail a sale of the bank to private equity group Lone Star Funds, saying they would rather buy it themselves.

Southern Europe's Most Troubled Lenders Stumble Toward Solutions

Problems in several long-suffering lenders in southern Europe are coming to a head, a reminder of weak links remaining in the region's banking system despite progress made by many larger lenders to repair their balance sheets.

Continue Reading Below

Buyout Firms Eye Gusher of Cash from Aramco IPO

At least 20% of the Saudi Aramco IPO proceeds are expected to be invested in private equity, part of the first significant international investing in the kingdom's history. But for those who manage to secure a slice of the bounty, it won't come for free.

AmTrust Swaps Finance Chiefs

AmTrust Financial Services said it would replace chief financial officer Ronald Pipoly Jr. with Adam Karkowsky, another company insider.

Goldman Wealth Adviser Breaks Away

David Darby, a Goldman Sachs financial adviser who oversaw $1 billion in assets, is launching his own firm, the bank's latest wealth-management departure.

Merrill Pulls In Brokers Before Recruitment Pause

Just before a self-imposed recruiting pause set in, Merrill Lynch made at least three multibillion-dollar hires from its biggest rivals.

How Funds Are Beating This Market

Active fund managers are beating the market for the first time in years. But the way they are getting the gains doesn't inspire confidence that their winning streak will go on for much longer.

Chinese Banks Face Up to Funding Squeeze

Household deposits, long the foundation of China's economy, are now fleeing the country's banking system.

China Exchanges Resume Allowing Bitcoin Withdrawals

After a three-month moratorium, bitcoin exchanges in China are again allowing withdrawals of the virtual currency, having upgraded their systems in response to heightened government scrutiny.

(END) Dow Jones Newswires

June 05, 2017 16:15 ET (20:15 GMT)