News Highlights: Top Financial Services News of the Day

Popular Trading Platforms Have Technical Difficulties as Stocks Surge 
 

Charles Schwab and TD Ameritrade were among companies saying customers experienced problems. Several platforms cited extreme trading volumes as investors rushed to buy and sell shares.

 
Fed's Mester: Rise of Fintech Will Need Significant Regulatory Response 
 

The rise of new financial technologies will call for new approaches to regulation, Federal Reserve Bank of Cleveland President Loretta Mester said Monday.

 
Vaccine Jolts Markets in a Way Biden and Trump Couldn't 
 

The U.S. presidential race mattered for investors but other things matter more, especially the Federal Reserve and the prospects of Covid-19 vaccine candidates.

 
Sumeru Equity Partners Raises $720 Million for Latest Technology Fund 
 

The firm exceeded its $600 million target for Sumeru Equity Partners Fund III LP, which closed in late October.

 
TriMark Lenders Sue Competing Investors for Jumping Ahead 
 

Lenders to TriMark USA sued a group of competing investors in the food-service supplier, saying the group put together a $427.5 million rescue financing package that unfairly vaulted those investors to the top position in the repayment line.

 
Calstrs CIO Looks to Pension's Past in the Search for Flexibility 
 

At a recent pension board meeting, CIO Christopher Ailman urged Calstrs's board to consider enhancing its ability to make opportunistic investments, better enabling it to take advantage of investments that don't fit neatly into other asset categories.

 
Springboard Growth Looks to Bridge Funding Gap for Women-Led Companies 
 

Springboard Growth is currently staffed entirely by women and backs businesses with at least one woman among their upper ranks with an equity stake in the business.

 
Societe Generale Announces Job Cuts 
 

Societe Generale plans to cut around 640 positions in France, mainly in its securities services and other central functions such as risk, compliance and human resources.

 
Julius Baer Reaches U.S. Deal Over FIFA Matter 
 

Julius Baer has reached an agreement in principle with the U.S. Justice Department to settle a probe into its role in FIFA's corruption affair.

 
Vaccine Has Wall Street Ready to Suit Back Up 
 

Count formal wear as among the sectors ready to come back.

(END) Dow Jones Newswires

11-10-20 0015ET