News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

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

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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.

App Maker Halts Initial Coin Offering After SEC Investigation

The Securities and Exchange Commission intervened to halt a $15 million initial coin offering that would have evaded laws for how securities must be sold. The case is the first in which the SEC has taken action against an ICO without making fraud claims.

Bitcoin Buyers Get Unwanted Message: Wait in Line

Some of the world's biggest cryptocurrency exchanges have experienced disruptions in recent days as interest in bitcoin surged in the weeks leading up to Sunday's launch of bitcoin futures.

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The Future Is Bumpy: High-Tech Hedge Fund Hits Limits of Robot Stock Picking

Voleon is among funds deploying machine learning, a technology in which computers develop trading strategies. It's harder than it sounds, given that markets are noisy and clients often want a better understanding of how their money is being invested.

Stop Talking About Bitcoin's Market Cap

Enthusiasts say bitcoin is taking over the world. But comparisons to real companies, currencies and countries are flawed measures for the cryptocurrency.

JPMorgan Chase's Sapphire Reserve Card Gets a New Chief

JPMorgan 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.

Treasury Says GOP Economic Agenda Would Pay for Tax Cuts

Treasury Department said the Republican economic agenda would generate enough economic growth to pay for the tax cuts being considered by Congress, using growth assumptions exceeding the official congressional estimates.

Startup Affirm Nears $2 Billion Valuation After Investment

Financial-technology startup Affirm Inc. said Monday that it raised $200 million in new equity as it battles larger players getting into its core business of lending to consumers for retail purchases.

Emerging Markets Barrel Ahead Despite Tightening Fed

Emerging markets, long vulnerable to the whims of central banks in the developed world, now seem to be more Fed-proof than ever, as they are enjoying what some analysts call a "Goldilocks" moment.

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.

(END) Dow Jones Newswires

December 11, 2017 16:15 ET (21:15 GMT)