News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

U.S. Audit Regulator Sanctions Hong Kong-Based Accounting Firm

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The U.S. government's audit regulator has barred the Hong Kong affiliate of accounting firm Crowe Horwath from auditing U.S.-traded companies after the firm refused to cooperate with the regulator's investigation of its work for a Chinese company.

House Votes to Repeal CFPB's Arbitration Rule

The U.S. House voted 231-190 to overturn a regulation that could make it easier for consumers to sue banks in groups, an early step to undo a rule that is opposed by the financial industry and Republicans.

SEC Warns on Initial Coin Offerings

The SEC said Tuesday that laws written to protect investors in everyday stock sales also may apply to digital currencies known as initial coin offerings, potentially imposing a new layer of regulation on the nascent industry.

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Cohn and Yellen Are Among Trump's Contenders to Lead Fed

President Donald Trump is considering renominating Janet Yellen as Fed chairwoman but also views his economic adviser Gary Cohn as a top candidate, he told The Wall Street Journal in an interview Tuesday.

State Street Votes Against 400 Companies Citing Gender Diversity

Index-fund giant State Street Global Advisors voted against the reelection of directors at 400 companies this year on grounds they failed to take steps to add women to their boards.

Prosecution in Martin Shkreli Case Presents Final Evidence

Closing arguments are scheduled to take place Thursday; the jury could get the securities-fraud case before the end of the week.

Citigroup Aims High With Profit, Capital-Return Targets

Citigroup led bank stocks higher Tuesday after telling investors it is aiming for $60 billion or more in capital returns to shareholders through 2020 and that it hopes in coming years to earn $20 billion annually.

In Silicon Valley, the Big Venture Funds Keep Getting Bigger

Giant venture-capital funds are piling up in Silicon Valley, a sign that foundations, pension funds and endowments are still willing to rush money into the risky startup sector despite lingering concerns about overheated valuations.

Hedge Funds Take Aim at Health Care REIT Merger

Two major investors of Sabra Health Care REIT are coming out against its proposed deal to acquire another health-care REIT, saying Sabra is overpaying for skilled nursing assets that are in bad shape.

IPO Backed by Morgan Stanley, Asian Billionaire Gets Rare Rejection

Hong Kong's stock exchange has denied the application for a potentially multimillion-dollar listing as the city-a hot spot for initial public offerings-has come under increasing regulatory scrutiny.

(END) Dow Jones Newswires

July 26, 2017 00:15 ET (04:15 GMT)