News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Trump Chips Away at Postcrisis Wall Street Rules

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Regulators in the Trump administration have started easing restrictions that were placed on Wall Street after the financial crisis. Several agencies are reviewing the Volcker rule and some regulators recently dropped a plan to restrict bonuses.

Investors Take on Mortgage Risk from Fannie, Freddie

Investors are snapping up a new type of security sold by Fannie Mae and Freddie Mac, assuming the risks of mortgage defaults and powering a quiet transformation of the housing giants.

China Sets Its Banks on Scramble for Funding

A crackdown on a key funding source for banks is bound to cause some lenders to hit regulatory limits.

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PBOC: Negotiable Certificates of Deposit to Be Interbank Liabilities

China's central bank said in its latest monetary-policy report that it would include negotiable certificates of deposits in its macroprudential assessment, in a bid to curb rising leverage in the financial sector.

Ackman Disputes ADP's Narrative

William Ackman tried to change the narrative around his $4 billion bet on Automatic Data Processing, questioning whether its chief executive accurately portrayed conversations with the activist investor to the company's board and shareholders.

On Inherited IRAs, Beware the Pitfalls of Trust Transfers

Adviser Voices: Pat Simasko, an adviser and partner at Simasko Law in Mount Clemens, Mich., says estate planners should take care to avoid missteps that can lead to taxable events for clients when transferring inherited IRAs to trusts.

Bitcoin Soars Past $4,000 in Weekend Trading

The price of the digital currency bitcoin crossed over the $4,000 mark for the first time in its nine-year history, despite a widespread selloff in other major digital currencies.

SoFi Faces Wrongful Termination Suit

A former employee of online lender Social Finance Inc. accused the company in a lawsuit of wrongfully terminating him after he reported some managers had concealed errors made in processing loan applications and that another had harassed female employees by making sexual or inappropriate comments

European Companies Chase New Investors Through Private Sales

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.

Canada's Big Pension Funds Show Gains, Caution on Infrastructure

Two of Canada's biggest pension funds said strong global stock markets drove gains for the first part of the year. They cautioned, however, that efforts to diversify investments into areas like infrastructure are being complicated by competition and a lack of opportunities.

(END) Dow Jones Newswires

August 14, 2017 11:15 ET (15:15 GMT)