Regulators Fine Citigroup $400 Million Over 'Serious Ongoing Deficiencies'

In a consent order agreed to by the New York bank's board, the Federal Reserve faulted Citigroup for falling short in "various areas of risk management and internal controls." 


 
Fed Faced Divisions Over Low-Rate Promises Last Month

Federal Reserve officials were divided last month over how to apply their new policy framework to an economy battered by the coronavirus pandemic, according to minutes of their Sept. 15-16 meeting. 


 
Genstar Capital Seeks $10 Billion for New Funds

Buyout firm Genstar Capital is pitching its 10th midmarket fund to institutional investors less than two years after collecting $7 billion for its ninth flagship vehicle and a related overage fund, according to people familiar with the matter. 


 
European Union Moves Closer to Common Debt Issuance

The European Commission is advancing its plans to issue common debt and is poised to tap the bond market this month for the first time on a large scale to fund its coronavirus-relief programs. 


 
Pandemic Rocks Private-Markets Fundraising

A record number of private-market investment firms are seeking capital despite the coronavirus pandemic, which held back fund closings during the third quarter, according to data provider Preqin. 


 
Venmo's New Credit Card Puts QR Codes Front and Center

Venmo, the payments app owned by PayPal Holdings, has introduced its first physical credit card, stamped with a prominent QR code on the front. 


 
SEC Committee Tackles Disorderly Electronic Bond Trade Reporting

Liquidity is important in bond markets, but measuring it has grown more complex as trades move onto competing electronic trading venues. 


 
What the Stock Market Doesn't Know About the Trump-Biden Election

Markets aren't moving with the polls in a clear way as they did before the 2016 election, but a fine-grained analysis of what we don't know will help make sense of what happens to stocks after next month's vote. 


 
Startups Tap Upfront Cash Alternative to Venture Capital

Giving up a share of future subscription revenue is an appealing option for some fast-growing startups that don't want to dilute their ownership stakes by raising venture capital. 


 
Fed Tenure Boosts Brainard as Potential Biden Treasury Pick

The policy maker and former Obama administration official has played key roles in shepherding the central bank's response to the Covid-19 pandemic.

(END) Dow Jones Newswires

10-08-20 0015ET