Your Daily Dose of Financial News


More on Jeff Immelt’s departure from GE (and on the “quintessential company man”—John Flannery—who will take the helm in Immelt’s stead) – NYTimes and WSJ and Bloomberg

If the White House gets its way, Richard Cordray and the CFPB (and many other current Wall Street regulators and regulations) would be virtually unrecognizable as compared to their current form – NYTimes and WSJ

Citi will pay a [surprisingly meager] $1 million to resolve allegations that it “violated market rules and supervisory requirements for more than four years”—including allowing employees to send error-laden trade orders (like one worth more than $13 billion) – Law360

Reuters is out with a pretty damning report on FINRA and the watchdog’s failure to name names of firms that the regulator itself has identified as high risk – Reuters

The Journal is talking VIX again—specifically, the booming volatility trading that’s sprung up around the index meant to serve as Wall Street’s fear gauge – WSJ

Ireland’s AIB IPO could see a $14.9 billion valuation (about 2/3 of what the government injected into Allied Irish Banks to save it during the financial crisis) – NYTimes

Viking Global’s chief investment officer is out, and the hedge fund is returning $8 billion (a full quarter of the assets under its management) to its investors – WSJ

Deutsche Bank will pony up $170 million to settle investor claims that it conspired to rig Euribor – Law360

White Collar Watch adds its 2 cents on what the High Court’s recent Kokesh opinion (restricting the SEC’s use of disgorgement) will mean for the agency and its future enforcement actions – NYTimes

Online lender SoFi has taken the first steps required to be officially chartered (and FDIC-backed) as a bank – WSJ

Finding yourself a bit confused about the state of play in the UK after Thursday’s snap election surprise? Fair enough. John Oliver’s happy to help explain what happened and what it means for Brexit – Last Week Tonight

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