News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

New York Fed's Dudley Investigated, Cleared Over Wells Fargo Disclosure

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New York Fed President William Dudley was investigated this year for failing to disclose a relative's employment at Wells Fargo and was cleared of any wrongdoing, the regional Fed bank said Friday.

China's Legend Holdings Makes European Push With BIL Deal

Legend Holdings made one of China's biggest forays yet into European banking with an agreement Friday to buy Banque Internationale à Luxembourg SA from its Qatari owners and turn it into an international banking brand.

Hedge Fund Winton's Investment Chief Quits to Launch New Firm

The chief investment officer at Winton Group, one of the world's largest hedge funds, has quit to set up his own firm.

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White House Set to Tap Columbia Law Professor for SEC on Friday

The White House is expected on Friday to nominate Columbia University law professor Robert Jackson to a vacant slot on the Securities and Exchange Commission, according to people familiar with the matter.

Analysis: Jobs Report Won't Alter Immediate Fed Plans, but Doesn't Solve Inflation Puzzle

A solid if slightly weaker hiring report for August is unlikely to change the Federal Reserve's plans to initiate the slow runoff of its $4.5 trillion portfolio of bonds and other assets. But the internals of the report could magnify the debate over how aggressively the central bank should move forward with rate increases.

Swaps Rules Aimed at Curbing Risk to Go Into Effect in U.S.

New global swap-collateral rules will go into effect in the U.S. on Friday, following a six-month pause prompted by international coordination and compliance difficulties.

Nasdaq Tries to Ease Rules for Blank-Check IPOs

Nasdaq wants to make it easier for blank-check companies to go public, as such firms account for a growing portion of the IPO market.

$10 Billion Robo-Adviser Betterment Flourishes as Chief Learns to Let Go

Betterment LLC Chief Executive Jon Stein wants to use technology and automation to make investment advice and financial services broadly accessible while lowering the cost and removing compensation conflicts.

Vanguard Voted Against Wells Fargo Directors

Vanguard Group, one of the world's largest asset managers, voted against Wells Fargo & Co. nonexecutive chairman Stephen W. Sanger and two other directors this year.

Wells Raises Tally of Unauthorized Accounts by 67%

Wells Fargo said around 3.5 million customer accounts were "potentially unauthorized" in its sales-practices scandal upon the completion of its review, up from the 2.1 million accounts previously announced.

(END) Dow Jones Newswires

September 01, 2017 16:15 ET (20:15 GMT)