News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

European Companies Chase New Investors Through Private Sales

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European companies have stepped up the sale of securities directly to investors as they seek to diversify their funding amid fears of tighter monetary policy.

Who Is Winning With the Fiduciary Rule? Wall Street

The brokerage business fiercely fought the new retirement advice rule, which requires brokers to act in the best interests of retirement savers, rather than sell products that are merely suitable but could make brokers more money. But so far for Wall Street, it has been a gift.

CFTC Chairman Readies Revamp of Swaps Rules

President Donald Trump's new head of the U.S. derivatives regulator, J. Christopher Giancarlo, plans to remove restrictions on where swaps can be traded, revising a rule from the Dodd-Frank financial law critics say has diminished market liquidity.

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1MDB Makes Payment of $350 Million to Abu Dhabi's IPIC

Malaysia's troubled state-investment fund 1MDB said it had paid the equivalent of $350 million to Abu Dhabi's International Petroleum Investment Co. after missing a pair of deadlines.

Wall Street Trader Arnade Seeks Redemption for 'Intellectual Grift'

Chris Arnade walked away from Wall Street after 20 years to photograph and write about America's disaffected poor. The 52-year-old says the new career is a conscious attempt to reconcile his multiple identities, and perhaps atone for his time in finance.

Credit Suisse Bans Trading of Some Venezuelan Bonds

Credit Suisse Group will prohibit trading of certain Venezuelan bonds, citing the country's political climate, according to an internal bank memo.

Embattled Wells Fargo Plans Board Shake-Up

The board of Wells Fargo, grappling with fresh problems even as it tries to move past the bank's sales-practices scandal, is planning a shake-up that is likely to include Stephen Sanger stepping down as chairman.

Why Goldman Sachs Seized a Client's 217-Foot Yacht

The story behind Goldman's nautical trophy catalogs the inevitable outcome of Wall Street's latest gold rush: lending to wealthy clients, the loans backed by everything from Warhols to fine wine.

SoftBank Filings Confirm It's Taking Extra Risk in Giant Tech Fund

Filings by SoftBank Group show it has taken on outsize risk in its new SoftBank Vision Fund, which has said it would have at least $93 billion to put into big technology bets.

Today's Financial Crisis: We Forgot the Financial Crisis of 2007

The global financial crisis began 10 years ago this week. The bad news is that it doesn't take a once-in-a-lifetime financial crisis to put a big dent in your savings, merely a perfectly ordinary mismatch between expectations and reality.

(END) Dow Jones Newswires

August 11, 2017 11:15 ET (15:15 GMT)