News Highlights: Top Financial Services News of the Day

02/06/18 04:15 PM EST
Guggenheim Partners Spins Out $13 Billion Unit to Executive Following Lawsuit 
 

Guggenheim Partners said it has spun out a $13 billion computer-driven investing business to a senior money manager who recently sued the financial firm.

 
Banks Cheer Return of Wild Markets 
 

Banks have blamed placid markets for lackluster returns in their big trading operations. This week they're cheering the big market swings, seeing hope for a boost in fees that dropped off a cliff last year.

 
Market Turmoil Threatens IPO Recovery 
 

January was a record month for U.S. initial public offerings as the strong equity market encouraged many companies to list their shares. But the turmoil that erupted last week threatens to stop that momentum in its tracks.

 
Quants Embrace Recent Selloff Even as Everyone Blames Them For It 
 

A day after the stock market plummeted more than 1,100 points, quantitative traders were made the scapegoat by many investors and even the Treasury Secretary. But within these high-powered "quant" funds, some see the selloff as the best opportunity in a few years to make money.

 
Patchy Bitcoin Oversight Poses Hazards for Investors, Regulators Say 
 

U.S. regulators said Congress should consider expanding federal oversight of bitcoin and other cryptocurrency trading, as market cops amplify alarms about an asset class that is largely exempt from investor-protection laws.

 
Tim Pawlenty to Leave Financial-Industry Group 
 

Tim Pawlenty, the former Minnesota governor, said he is stepping down as head of a prominent financial-industry group next month, amid signals he is weighing another gubernatorial run.

 
Some Investment Websites Still Slow During Market Drop 
 

The slowdowns and outages that plagued the websites and mobile apps of investment firms during Monday's stock market rout plagued at least two firms Tuesday during the sharp drop at the open.

 
Seven States Team Up on Fintech Licenses 
 

Banking regulators from seven states are streamlining the way they license some financial-technology companies, responding to the companies' complaints over having to obtain authorizations from each state in which they operate.

 
IPO Shortcuts Put Burden on Investors to Identify Risk 
 

Rules giving small companies a quicker path to public listings aren't doing investors any favors.

 
Treasury Secretary Tries to Ease Concern Over Stock Market Fall 
 

Treasury Secretary Steven Mnuchin on Tuesday tried to dampen concerns over the recent stock market fall, which he said was not tied to any issues of financial stability and didn't overly concern him.

 
 

(END) Dow Jones Newswires

February 06, 2018 16:15 ET (21:15 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.