News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

U.S. Lawsuit Links $2.2 Billion Deal to Malaysian 1MDB Scandal

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U.S. authorities are investigating the $2.2 billion purchase of a U.S. energy company by a Middle Eastern government investment fund that was arranged by Goldman Sachs and netted one investor a $300 million windfall in less than a week, according to a government lawsuit and people familiar with the investigation.

Trump Team Proposes Broad Rethink of Financial Rulebook

The Trump administration proposed a wide-ranging rethink of the rules governing the U.S. financial sector in a report that makes scores of recommendations that have been on the banking industry's wish list for years.

Online Lender SoFi Takes Step Toward Becoming a Bank

Online lender Social Finance Inc. has asked federal officials to grant the company a banking license, one of the most advanced efforts by a financial-technology startup to obtain the power to offer bank products and services in exchange for stricter regulation.

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Mnuchin Urges Congress to Lift Debt Ceiling Before August Recess

Treasury Secretary Steven Mnuchin said Monday the Treasury can fund the government through "the beginning of September" and urged lawmakers to raise the government's federal borrowing limit before they leave for their summer recess.

U.S. Moves to Seize London Penthouse in 1MDB Scandal

The U.S. government filed lawsuits aiming to seize a London penthouse with views of Buckingham Palace and a nearby office that served as headquarters for a lingerie company because it believes the properties were acquired with funds from a financial scandal in Malaysia.

Goldman's Blankfein, Citi's Corbat Duped by Email Prankster

The chief executives of Goldman Sachs Group and Citigroup are the latest bank bosses to be hooked by an email prankster trolling top Wall Street brass, exposing a low-tech gap in banks' cybersecurity armor.

Fresh Push to Scrutinize Stockbrokers With Red Flags

Wall Street's self-regulatory organization will provide its members with new guidance for supervising stockbrokers with a history of customer complaints or other red flags, its chief executive said Monday.

The Snowballing Power of the VIX, Wall Street's Fear Index

Created to track expectations of volatility, it has spawned a giant trading ecosystem that could magnify losses when turbulence hits.

Goldman's Green Push Comes With Trading Twist

Goldman Sachs Group Inc. has agreed to buy 68 megawatts of electricity from a Pennsylvania wind farm in an effort to stake a claim in a hot corner of the energy-trading market-and to try to catch up with rivals.

Andreas Halvorsen's Viking Global Investors to Return $8 Billion

Viking Global Investors LP told clients Monday it would be giving back $8 billion of their money, saying its smaller size would give the stock-picking hedge fund "greater operating flexibility."

(END) Dow Jones Newswires

June 13, 2017 07:16 ET (11:16 GMT)