News Highlights: Top Financial Services News of the Day - Tuesday at 11 AM ET

SEC Issues $88 Million Fine Against 12 Firms for Recordkeeping Failures 
 

The Securities and Exchange Commission said 12 firms agreed to pay combined civil penalties of $88.3 million for violating recordkeeping provisions as required by federal securities laws.

 
Fed's Bowman says inflation remains a concern despite recent progress 
 

"While it has not been my baseline outlook, I cannot rule out the risks that progress on inflation could continue to stall," Fed Gov. Michelle Bowman said.

 
Visa Stock Falls on Reports of Looming Antitrust Lawsuit. 'Incremental Regulatory Overhang' Is Likely. 
 

Reports say the U.S. Justice Department's antitrust division could file a lawsuit as soon as Tuesday.

 
A Private-Equity Executive Pushes for Workers' Stake in U.S. Companies 
 

A co-head of KKR's global private-equity business wants to change a 1974 law governing employee stock-ownership plans.

 
Italy's UniCredit Trades Blows With Berlin Over Commerzbank 
 

Germany's chancellor decried "unfriendly attacks" on banks after UniCredit moved to raise its stake in the lender.

 
Financial Services Roundup: Market Talk 
 

Commerzbank, UniCredit and more in the latest Market Talks covering Financial Services.

 
Robinhood Touts Rock-Bottom Fees for Options Trading. Then Come the Hidden Costs. 
 

Customers using the platform face higher transaction costs than those of other brokers, a study finds.

 
Labor market is not 'flashing red,' two top Fed officials say 
 

Two top Federal Reserve officials on Monday said that they don't think the labor market is weakening dangerously - but the risk of further softening called for last week's half-point cut in the policy rate.

 
Pro Take: Look Out for Hungry Unicorns 
 

Venture investors both cheered the Federal Reserve's half-percentage-point interest rate cut last week and acknowledged its effects would take time to ripple through the startup ecosystem. But once they do, look for software unicorns to be on the hunt for mergers and acquisitions.

 
The Rate Cut Happened. Not All Borrowing Costs Are Going Down. 
 

The yield on 10-year Treasury notes is a reminder that the Fed doesn't have complete control over borrowing costs.

(END) Dow Jones Newswires

September 24, 2024 11:15 ET (15:15 GMT)

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