News Highlights: Top Financial Services News of the Day
Investors Have Gotten Too Complacent on China Debt
China is right that industrial capacity cuts are helping steel and coal firms to reduce debt and banking-sector risks. Investors are wrong to conclude the battle is won.
CFTC Reports Steep Drop in Enforcement Actions, Fines
The Commodity Futures Trading Commission's enforcement actions and fines plunged in the first year of the Trump administration from a year earlier, when the figures were lifted by big settlements with banks.
Carl Icahn Buys Stake in SandRidge Energy
Carl Icahn has purchased a 13.5% stake in SandRidge Energy Inc., joining a list of shareholders who say a deal the oil-and-gas producer struck last week for Bonanza Creek Energy Inc. makes little sense.
Consultant Finds Employee Discord at Office of Financial Research
Many employees at the Office of Financial Research are unsatisfied with their agency's leadership and harbor concerns about mismanagement, according to a consultant's report.
China Wields Bigger Stick on Booming Little Lenders
In its latest attempt to restrain the fast-evolving fintech sector, Beijing directed local governments to stop licensing providers of online microloans and to prohibit their operating outside the province where they are registered.
Long Island Town Charged With Securities Fraud
The Securities and Exchange Commission on Tuesday charged the Long Island town of Oyster Bay with defrauding bondholders by failing to tell them about four private loan deals.
Banks Mustn't Set Up Shells if They Want to Retain EU Access, Say Officials
European financial officials reiterated that banks and insurers shouldn't expect to set up letterbox firms in the European Union if they want to retain access to the bloc post-Brexit.
China's Online Lending Army Runs Into Beijing
What could go wrong betting on fintech companies catering to China's increasingly affluent consumers? Quite a lot, it turns out.
Stop Using Excel, Finance Chiefs Tell Staffs
CFOs say the ubiquitous spreadsheet software that revolutionized accounting in the 1980s hasn't kept up with the demands of contemporary corporate finance units.
Yellen Says She's Uncertain Weak Inflation Is Transitory
The Federal Reserve is monitoring inflation closely given officials' uncertainty over whether the factors keeping it below their 2% target will prove endemic, Chairwoman Janet Yellen said.
(END) Dow Jones Newswires
November 23, 2017 07:15 ET (12:15 GMT)Copyright (c) 2017 Dow Jones & Company, Inc.