* Third-quarter trading revenue at U.S. commercial banks and federal savings associations grew sequentially and year over year to $7.06 billion, according to the Office of the Comptroller of the Currency's report.

* Morgan Stanley raised more than $1.4 billion for North Haven Tactical Value Fund LP and its related funds, which is almost triple the fund's initial target, Bloomberg News reports. The fund will invest in private, long-term and often illiquid investments.

* The Kuala Lumpur High Court rejected the bail application of former Goldman Sachs executive Roger Ng for charges connected to the 1Malaysia Development Bhd. scandal, The Star Online reports.

* A group filed an application with the Federal Deposit Insurance Corp. to open Millyard Bank, New Hampshire's would-be second de novo bank since the financial crisis, according to the American Banker.

* A federal court ordered AriseBank's former CEO Jared Rice Sr. and former COO Stanley Ford to pay about $2.7 million to settle allegations of launching a fraudulent initial coin offering.

* Private equity companies Apollo Global Management and Ares Management are urging the Securities and Exchange Commission and Congress to loosen rules that would enable mutual funds and other big money managers to invest in business development companies, Bloomberg News reports.

* A total of 174 hedge funds were liquidated during the third quarter, exceeding the year-ago figure of 137 and the 144 hedge fund launches in the recent quarter, according to the Hedge Fund Research.

* EmblemHealth was fined $250,000 by the state of New York as part of a settlement requiring the health insurance provider to cover its members' gender reassignment surgeries.

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