News Highlights: Top Financial Services News of the Day

Published December 04, 2017
Dow Jones Newswires

First U.S. Bitcoin Futures to Start Trading Next Week

The first U.S. bitcoin futures will start trading next week, as dueling Chicago futures exchanges seek to cash in on surging investor interest in the digital currency.

SEC Chairman Clayton Says Agency Is Not Done in Addressing Uses of Bitcoin

SEC Chairman Jay Clayton said the commission has more to offer on how it views the uses of bitcoin, though he stopped short of saying the SEC planned to issue formal guidance on the subject.

Is It Time to Regulate Bitcoin?

Individuals who lose money trading a cryptocurrency like bitcoin can hardly expect to appeal to governing institutions when things go wrong. But regulators are unlikely to sit out much longer, and that is a shame.

Morgan Stanley Launches 'Robo' Advice Service

Morgan Stanley has launched an automated-advisory service, the latest wealth-management firm to expand digital offerings in a bid for younger investors' assets.

Hartford to Sell Life Insurance Business Hit by Financial Crisis

Hartford Financial said it would sell an annuities operation that it has been winding down since 2012 to a group of investors, helping close the door on a painful chapter in the firm's 207-year history.

Struggling HSH Nordbank Expected to Sell for $237 Million

German lender HSH Nordbank expects to be sold for around $237 million after receiving bids from U.S and U.K. private equity funds, according to people familiar with the matter.

EnCap Amasses New $7 Billion Fund to Invest in the Oil Patch

Houston private-equity firm has finished raising one of the largest energy-focused funds of the year

U.S. Accuses Chinese Banks, but Treads Lightly

The Trump administration is struggling with how to pressure North Korea's top ally and patron-China-without alienating an economic powerhouse that is arguably the best hope to slow its rogue nuclear-weapons program.

Richmond Fed Picks McKinsey Executive Thomas Barkin as President

The Richmond Fed has selected Thomas Barkin, a top executive at McKinsey & Co., as its next president and chief executive, the bank said.

SEC Targets Initial Coin Offering 'Scam'

The SEC announced its first-ever enforcement action by its new cyber unit against an initial coin offering, alleging a Canadian company violated U.S. securities laws in raising $15 million through this new, red-hot area of finance.

(END) Dow Jones Newswires

December 04, 2017 16:15 ET (21:15 GMT)