News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Former Pimco CEO Doug Hodge to Retire

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Pacific Investment Management Co.'s Doug Hodge, the firm's former chief executive who took the reins in the wake of star investor Bill Gross's 2014 exit, said he would retire from the bond manager in December.

Wall Street Fears Nasdaq Proposal Would Expose Trading Secrets

A dispute has erupted over Nasdaq's plan to launch an options-data service called the "Intellicator Analytic Tool." Critics say if approved by the SEC, the service could enable algorithmic traders to exploit investors.

SEC Chief Fires Warning Shot Against Coin Offerings

SEC Chairman Jay Clayton said so-called initial coin offerings in many cases looked like securities, raising the prospect the agency will take a more aggressive stance to this red-hot fundraising method.

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Economists See Few Monetary Policy Changes With Powell Leading Fed

Economists surveyed by The Wall Street Journal this month expect that a Federal Reserve led by Jerome Powell would mean little change in monetary policy and a less aggressive approach to financial regulation.

In an Effort to Cut Costs, Some Banks Are Ditching the Fed

Bank of the Ozarks was regulated by the Federal Reserve, the Federal Deposit Insurance Corp., a state banking agency and others. When it wanted to cut costs, it ditched the Fed.

Former Bitcoin King Is Bankrupt-And He Could Get Rich Again

Creditors of the collapsed Japanese bitcoin exchange Mt. Gox are due to miss out on the surge in bitcoin prices. But the exchange's former chief, now on trial for embezzlement, could make a tidy profit.

Commerzbank Swings to Profit

Germany's second-largest bank, Commerzbank swung to a profit in the third quarter and confirmed it expects to post a small profit for the full year.

ECB's Nouy: Concerned About Pace of Banks' Brexit Plans

Some banks aren't doing enough to deal with the consequences of Britain's decision to leave the European Union, the European Central Bank's top banking supervisor told lawmakers.

SNB's Jordan: Ready to Intervene in Forex Markets if Necessary

Swiss National Bank Chairman Thomas Jordan said his bank would intervene in foreign-exchange markets again if necessary, keeping the door open to one of the most aggressive moves used by central banks in recent years.

Time to Remove Italian Banks from List of Global Worries

Here's one less thing for global investors to worry about: Italy's once-tottering financial system isn't nearly as scary as it was.

(END) Dow Jones Newswires

November 09, 2017 16:15 ET (21:15 GMT)