News Highlights: Top Financial Services News Of The Day

Anti-Money-Laundering Prosecution Deals Setbacks to European Banks 
 

Failures to police money laundering procedures hit two major banks in Europe, dealing a further setback to a region that has struggled to stop financial institutions from serving as conduits for illicit transactions.

 
The Earnings Season Is Great. Investors Are Already Looking Past It. 
 

It is shaping up to be a stellar earnings season for stocks, particularly cyclical ones like banks and retailers. The problem is that the market may already be moving on.

 
Libor-Replacement Competitor Gains Strength From New Offerings 
 

Ameribor poses a challenge to the Secured Overnight Financing Rate, preferred by many Wall Street banks and regulators.

 
U.S. Sanctions Squeeze Russia's Bonds 
 

Washington's diplomatic campaign in response to alleged cyberattacks and election interference is raising borrowing costs for the Russian government.

 
Danske Bank CEO Resigns Amid Dutch Probe Into Money Laundering at ABN AMRO 
 

Danske Bank said that Chief Executive Officer Chris Vogelzang has resigned after Dutch authorities named him a suspect in connection with their investigation into potential violations relating to the prevention of money laundering at ABN AMRO Bank N.V.

 
Chinese Asset Manager's Bonds Recover After Selloff 
 

A steep selloff affecting tens of billions of dollars of offshore debt from China Huarong Asset Management has partially reversed, after comments from the banking regulator helped reassure investors.

 
Financial Services Roundup: Market Talk 
 

The latest Market Talks covering Financial Services

 
Citigroup Refocuses in Asia Amid Consumer Pullback 
 

The New York-based bank plans to scale up what it sees as a more lucrative endeavor: serving the rising number of wealthy entrepreneurs and their businesses in Asia.

 
Morgan Stanley Books Archegos Loss, but Profit Hits a High 
 

The bank lost $911 million when Archegos Capital Management imploded last month, tarnishing a record-setting quarter.

 
SEC Whistleblower Program Shows Value of Speaking Up, Departing Chief Says 
 

The departing chief of the Securities and Exchange Commission's whistleblower office, who helped lead the unit from its infancy, hopes the growth of the cash-for-tips program will help show the true value of whistleblowers.

 
 

(END) Dow Jones Newswires

April 19, 2021 11:15 ET (15:15 GMT)

Source : https://www.morningstar.com/news/dow-jones/202104199142/news-highlights-top-financial-services-news-of-the-day

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