News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Labor Department to Roll Back Fiduciary Rule Compliance Deadline

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The Labor Department said it would delay the fiduciary rule's final compliance deadline by 18 months while signaling it may eliminate a provision that would allow investors to bring class-action suits against brokers they say breached their fiduciary duty.

New Worry in 'Repo': Just One Bank for $3.5 Trillion Market

Bank of New York's rival in the business of clearing U.S. Treasurys and repurchase agreements backed by them is exiting the business, prompting worry over the risks of having one bank handle such business.

DTCC Halts Settlement Services on Venezuelan Bonds

The Depository Trust & Clearing Corp., one of the largest securities clearing houses in the U.S., said it would no longer settle Venezuela bond trades, the latest blow for investors in the South American nation in the wake of U.S. sanctions.

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Republican Tax Plan Poses Risk to U.S. Bond Market

Republican plans to scale back tax deductions on corporate interest risks pushing more borrowing overseas, say experts and market participants, eroding the competitive advantage of the mammoth U.S. bond market.

Insurers Are Set to Use Drones to Assess Harvey's Property Damage

Property insurers are preparing to fly dozens of drones over homes and businesses to assess damage in the wake of Tropical Storm Harvey, the first widespread use of unmanned aircraft to size up catastrophe claims.

NYSE Seeks Delay on End-of-Day Company Announcements

Besieged by fast-trading robots, the floor traders at the New York Stock Exchange are getting a little help: an exchange-imposed news embargo for listed companies in the minutes after the market's close.

Fed's Powell Says Proposal for Bank Boards Will Simplify Responsibilities

The Federal Reserve's proposed easing of requirements for bank boards isn't meant to take the pressure off directors who sit on the boards, Fed Gov. Jerome Powell said.

Someone at Berkshire (Not Warren Buffett) Sold Apple Stock

Warren Buffett has been buying shares of Apple Inc., but not everyone at his Berkshire Hathaway Inc. is on the same page.

1MDB Pays Balance of Missed Debt Installment

Malaysia's state-investment fund paid the second tranche of a missed installment to an Abu Dhabi sovereign fund, a payment that could alleviate some concerns about Malaysian state securities for foreign investors.

Emerging-Market Bonds: The Stars Align

Low inflation is a puzzle in developed markets, but a pleasant and powerful phenomenon for emerging-market bonds

(END) Dow Jones Newswires

August 31, 2017 07:15 ET (11:15 GMT)