The Securities and Exchange Commission summoned the banks for hasty meetings on what triggered the forced sale of more than $20 billion of stocks linked to Hwang’s Archegos Capital Management.
Traditional financial companies are beginning to embrace cryptocurrencies and blockchain projects more than a decade after the creation of Bitcoin in 2009. That comes even as some remain skeptical of mainstream adoption.
Social Finance said it will give investors with more than $3,000 in their accounts the ability to invest in initial public offerings.
The company's announcement that it was slashing fees on two of its bond funds came just a day after BlackRock lowered fees on its lineup of style ETFs.
In late 2008, amid the financial crisis, traders expected several Fed hikes in the following couple of years, but central bank officials didn't tighten until 2015.
The company's proposed exchange-traded fund would track the cryptocurrency using pricing from U.S.-based exchanges including Bitstamp, Coinbase and Gemini.
In response to employee feedback, the bank is seeking to improve engagement in underrepresented communities and considering allowing employees greater flexibility to work remotely.
The online trading platform could go public as soon as late in the second quarter, a source said.
The response puts pressure on Chubb CEO Evan Greenberg to sweeten the offer as he seeks to beef up Chubb with Hartford's small-business coverage, fund manager and employee benefits unit.
There’s rising confidence at the White House that evidence of widening inequality will translate into broad popular support for a tax-the-wealthy strategy.
