News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Top SEC Officials Only Recently Told of 2016 Filings Hack

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The Securities and Exchange Commission's top officials weren't told until recently about a 2016 cyberattack that penetrated its system for public-company filings, raising questions about how the breach was initially handled.

Equifax CEO to Testify at Senate Hearing on Data Breach

Equifax Chief Executive Richard Smith will testify in front of U.S. senators next month about the company's handling of a data breach that compromised the personal information of millions of Americans.

China's Postal Savings Bank Taps Overseas Investors

State-owned Postal Savings Bank of China is raising up to $7.6 billion in one of the largest-ever sales of offshore securities by a Chinese lender.

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Commonwealth Bank Sells Life-Insurance Businesses for $3 Billion

Commonwealth Bank of Australia is considering spinning off its global asset-management unit after announcing the sale of its life-insurance businesses to AIA Group.

BlackRock to Sell Singapore Office Tower for Nearly $1.6 Billion

The sale would be one of Singapore's biggest real-estate deals so far this year and would be BlackRock's fourth property sale in the city-state since 2015.

N.Y. Company Accused of Running Bitcoin Ponzi Scheme

The CFTC has accused New York company Gelfman Blueprint of operating a bitcoin-related Ponzi scheme, in the regulator's first fraud-related action involving the cryptocurrency.

Stanford Professor Endorses Smaller Fed Portfolio

Stanford University economist John Taylor came down in favor of a smaller Fed portfolio during a lecture in Zurich on Thursday.

Hannover Re Warns Natural Disasters Threaten Profit Goal

Germany's Hannover Re warned it might miss its 2017 profit target due to the likely costs from recent natural catastrophes.

Wall Street's Newest Puzzle: What Passive Buying and Selling Means for Individual Stocks

The rise of passive investing is changing the makeup of markets. Even active investors are now resigning themselves to the influence of indexing and are contriving ways to take advantage of its impact.

Mexico Earthquakes Test Plan for Investors to Absorb Government Disaster Costs

Investors recently bought a catastrophe bond designed to minimize the financial hit to the Mexican government from earthquakes. They could now be on the hook for as much as $150 million after two major quakes struck the country in quick succession.

(END) Dow Jones Newswires

September 21, 2017 16:15 ET (20:15 GMT)