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Wednesday Express: Berkshire ups Goldman stake; Wells Fargo risk exec to leave

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Wednesday Express: Berkshire ups Goldman stake; Wells Fargo risk exec to leave

* During the second quarter, insurance conglomerate Berkshire Hathaway increased its stake in Goldman Sachs, U.S. Bancorp and Bank of New York Mellon, but trimmed its holdings in Wells Fargo.

* A Manhattan federal judge said Goldman Sachs shareholders may again sue the company over collateralized debt obligations, The Wall Street Journal reports.

* Mark D'Arcy is stepping down as Wells Fargo's chief operational risk officer to pursue outside opportunities, The Wall Street Journal reports.

* Gregory Guyett resigned as president and COO of Pasadena, Calif.-based East West Bancorp and East West Bank.

* The Securities and Exchange Commission hit investment manager Lockwood Advisors with a $200,000 civil money penalty for its failure to ensure oversight and disclose "trading away" fees.

* The SEC's proposed new "best interest" regulations for investment professionals are likely to be issued late 2018 or 2019, after the agency received more than 3,800 public comment letters, Barrons reports.

* Business development company Triton Pacific Investment and investment company Pathway Capital Opportunity Fund will merge to create TP Flexible Income Fund.

* Web giant Alphabet Inc. is investing $375 million in health insurance startup Oscar Health, Bloomberg News reports.

* Asset management firm Apollo Global Management formed Acra Re, a Bermuda-based reinsurance vehicle, The Insurance Insider reports.

* Citing the "experimental" nature of the treatments, Health Care Service will no longer reimburse the cost of injectable amniotic-tissue products made by MiMedx Group and other manufacturers, The Wall Street Journal reports.

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