News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

HSBC to Be Released From U.S. Deferred Prosecution Agreement

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HSBC is to be released from a controversial agreement that let it avoid U.S. criminal charges in 2012, after it was judged to have sufficiently improved its systems to keep out financial criminals.

Small Investors Face Steeper Tax Bill Under Senate Proposal

A little-discussed provision in the Senate tax bill may lead to a higher tax bill for millions of small investors and could cause many to unload stocks before year-end to avoid those costs.

Senate Tax Plan Could Also Hit Digital Wealth Advisers

The Senate's proposed tax change could also hurt digital wealth advisers who rely on algorithms to make investment decisions for investors.

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The New Face of Treasury Auctions

During the financial crisis, the borrowing needs of the U.S. more than tripled, and foreign investors and Wall Street banks bought most of the debt at government bond auctions. But recent years have seen a shift in who is buying Treasurys.

U.S. Bitcoin Futures Climb in First Day of Trade

Trade in the first bitcoin futures sparked a swift run-up in the price of the digital currency, while the exchange provider's website experienced outages from heavy traffic.

Adrian Orr to Be New RBNZ Governor

The government announced that the current head of New Zealand's sovereign-wealth fund, Adrian Orr, has been selected to lead the country's central bank.

J.P. Morgan Chase's Sapphire Reserve Card Gets a New Chief

J.P. Morgan Chase is bringing in a new executive to run one of its hottest products, the Sapphire Reserve credit card, at a time when doubts have surfaced within the bank about its financial prospects.

Why Bitcoin? Why Now?

For most of its nine-year history, bitcoin has been a financial-markets sideshow, sneered at as a plaything of criminals. No longer: 2017 is the year the digital currency stole the spotlight.

Trump Vows Punishment for Wells Fargo

President Trump threw himself into a debate about the direction of a consumer-finance regulator, pledging punishment for Wells Fargo despite his administration's promise to ease postcrisis financial regulation.

SEC Delays New Mutual Fund Disclosures, Citing Security

Mutual funds will get a nine-month reprieve from sending detailed portfolio information to their regulator as the government reviews how to ensure the valuable data isn't hacked.

(END) Dow Jones Newswires

December 11, 2017 07:15 ET (12:15 GMT)