News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Clearinghouses Push Back Against Worries Over Their Size

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Swaps clearinghouses are pushing back against the suggestion by a top Trump administration official that they have become too big and pose a market risk, saying regulatory and internal "stress tests" prove there is no cause for alarm.

SEC Approves Accounting Rule Despite Business-Group's Objection

The SEC gave final approval Monday to a long-planned regulation that will require auditors to tell investors more about what they learn when they audit a company's books.

NYSE Monitor Accuses Wedbush Securities of Supervisory Deficiencies

The watchdog of the New York Stock Exchange has accused Wedbush Securities Inc. and co-founder Edward Wedbush of violating multiple exchange policies and federal securities laws concerning record-keeping and supervisory protocols.

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Sizing up the Fed Candidates: Yellen Seen as Best for U.S. Stocks

Investors are sizing up President Donald Trump's candidates for Federal Reserve chair. Among market beliefs: A second term for Fed Chairwoman Janet Yellen would extend this year's record stock rally, while economist John Taylor would bolster the flagging U.S. dollar.

Warsh Met With Vice President Pence About Top Fed Job Last Week

Kevin Warsh, a candidate for the Federal Reserve chairmanship, met with Vice President Mike Pence last week to talk about the central-bank job, according to a White House aide.

Former HSBC Executive Found Guilty of Fraud

A federal jury found Mark Johnson, a former high-ranking HSBC Holdings PLC executive, guilty on charges that he misused information about a client's $3.5 billion currency trade to make millions of dollars for the bank.

Trump Administration Increases Heat on CFPB's Arbitration Rule

The Treasury Department criticized a rule governing how banks resolve disputes with consumers, part of a concerted effort by the Trump administration to thwart a controversial plan initiated under the previous presidential administration.

Trump Says 'No Change' to 401(k) Under Tax Overhaul

President Donald Trump vowed a popular retirement savings program would remain untouched in the forthcoming Republican tax overhaul proposal.

Hartford to Pay $1.45 Billion for a Unit of Aetna

Hartford Financial Services Group Inc. has agreed to pay $1.45 billion to health insurer Aetna Inc. for a unit that provides life-, disability-income and other insurance products to employers' benefits programs in the U.S.

General Electric Has a Long-Term Care Problem. It Isn't Alone

Worries about the health of the long-term-care insurance industry have nettled investors for years. General Electric's comments show the problem isn't going away soon.

(END) Dow Jones Newswires

October 24, 2017 07:15 ET (11:15 GMT)