money laundering and bank fraud binance is fielding separate civil charges from the securities and exchange commission>> the u.s. securities and exchange commission sued kraken. the company has more than 10 million clients and they are failing to register with the regulator and mixing i mpropely customer funds. >>> coming up on "street signs," we have the latest from secretary janet yellen wl have latest on her interview after the break. the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul. it's your water, your way. shipstation saves us so much time it makes it really easy and seamless pick an order print everything you need slap the label on ito the box and it's ready to go our cost for shipping, were cut in half just like that go to shipstation/tv and get 2 months free introducing the limited edition disney collection from blendjet. nine exciting designs your whole family will adore blendjet 2 is portable, which means you can blend up nutritious smoothies, protein shakes, or frozen treats, just a

and the world as well. before we go, us regulators are taking legal action against one of the world's largest cryptocurrency exchanges. the securities and exchange commissionities exchange without first registering as such. —— kraken. that is all the time we have four on today's asia business report. thanks so much for watching. just a tractor spreading fertiliser on a field near canarvon. hang on, there is no driver! meet one of the first ai tractors in the uk. this was developed in the netherlands in large flat fields, not quite the terrain we have in many parts of north wales. so these students have been out to see what it can do for farmers here. they are particularly interested in how can compact the soil. i interested in how can compact the soil. ~ , ., , the soil. i think this would be really handy _ the soil. i think this would be really handy where _ the soil. i think this would be really handy where we - the soil. i think this would be really handy where we live. l the soil. i think this would be j really handy where we live. it will stop compaction and things with the winter coming now so you can go with the to more places. you can go with the t

tether says it has frozen 225—million—dollars worth the securities and exchange commission accused themwsuit is the latest step to strengthen control over crypto assets, which the regulators say should be subject to the same laws as other investments. according to the world bank an estimated 500 million women and girls around the world can't get access to basic products and facilities to deal with menstruation. but one young woman from the uk decided to do something about it. sam everett reports. wherever there is poverty, there is period poverty, and no one talks about it. this is ella. during lockdown, she started selling reusable period pads and sending them to vulnerable girls and women around the world. you have people living in refugee settlements who don't have the products they need. they may be leak through their clothes, and because the stigma is so strong, they don't know who to ask, they don't know how to ask because they are so scared of talking about periods in the first place. three years later, she's built a team of thousands of volunteers who have sewn more than 100,000

stock exchange, only its price will be several times lower, it is expected that the us securities and exchange commissiontf by the first quarter of next year. let me remind you that the highest price of bitcoin was recorded at about $69,000, this was in november of the twenty-first year. that's all i have for now, more news. shopping days, autumn is not the time to be sad, please yourself with bed linen miara, choose your ideal set with discounts at valtberes, easy to apply, just get up to 5 million, in the branch, this. at night , our friend has already had to get up several times to admire the stars. my friend, if you get up more than twice at night, afalase, at the first symptoms of the prostate, afalase. afalase is a modern drug for the early treatment of prostate adenoma. it's a shopping day at sportmaster, only in the mobile app, with discounts of up to 70% on clothes and shoes from your favorite brands. what is real to you football? yes, everyone probably has their own. what is seryozha penyaev doing, handsome, little cue. this is rubinolo. 10 years later and the russian football cup. real footbal

the establishment of the security and exchange commissions, the fcc and in the 30s played a pivotal role in suppressing statests to fragment security markets, if they could. we have the european securities market authorities. some of that is not single. supervision remains largely at the national level. enforcement powers are often split across national regulators. so creating a european secretary by extending the powers, could be the answer, or part of the answer. it would need a broader mandate, including direct supervision and market infrastructures such as the eu central counter parties. you'll be hearing from the president from the french competition authority later on. that scenario, the combination of national authority or super national authority at the european level has made some really in roads into that occasion of authority with having the central power. but beyond the strong institution, a single rule book is also key, a lesson that we have learned in the banking sector. before the great financial crisis. it is a set of applicable rules for all banks, leveled the playing fi

over the last three years that has defined the securities and exchange commission. t me be clear, this is not just about how the regulatory process is conducted. the weight of the issues and topics under review by chairman ginsler must be considered thoughtfully and competitively. unfortunately, they have not -- competitivelily -- competitivel comprehensively. unfortunately, they ever not been. the s.e.c.'s private funds rule that will expand the disclosure regiment -- regimen. additional 30 seconds. mr. burchett: had a seconds -- 45 seconds. mr. womack: this list goes on to about 50 proposed and finalized rules by the chairman. a breakneck speed of rulemaking given that he's been chairman for three years. to me it's unacceptable. we have had that dialogue. in hearings. speed and volume should not be defining characteristics of the rulemaking process. i stand with the gentleman from tennessee. and the gentleman from south carolina. the authors of this amendment. i will support this holman rule in this particular case. i yield back my time. the chair: the gentleman yi

during remarks representatives and witnesses from the securities and exchange commission discussed oversight and regulatory enforcement. >> adrian -- good morning, everyone. the ranking member is on his way we will have to recess for quick rules on the floor and we will try to keep things going as fast as we can. i appreciate all of your indulgence. subcommittee on capital market coming to order. without objection, recess of the committee at any time. this hearing is entitled examining the fcc agenda. unintended consequences for u.s. capital markets and investors. without objection five legislative days for which extraneous materials for the chair for inclusion in the record. i now recognize myself for five minutes. i want to thank you for joining us today to examine the rulemaking process of the securities and exchange commission. an institution central to upholding the integrity, transparency and stability of our market. the united states both the deepest and most liquid as a cornerstone of our economic growth and prosperity. these are already among the most heavily regulated sectors among

i want to thank you for joining us today to examine the rulemaking process of the securities and exchange commission. an institution central to upholding the integrity, transparency and stability of our market. the united states both the deepest and most liquid as a cornerstone of our economic growth and prosperity. these are already among the most heavily regulated sectors among our economy. this underscores the need for our regulators to exercise the utmost diligence in their rulemaking activities. interventions must narrowly address known market deficiencies without inadvertently causing harm or disruption. especially in times of economic stress and uncertainty. regulators should not use their position to experiment with academic pet projects. transformative changes must be meticulously crafted and thoroughly vetted to account for indirect cost and cumulative effects and only undertaken when explicitly authorized by congress. regrettably, we have reserved a departure from this approach under current leadership led by chair gansler. in recent months our subcommittee has undertaken a rigorous exami

paul: you follow security and exchange commission, former chairman arthur levin came out on our pageske agency to regulate colleges and universities and how they are governed. what do you make of that idea? >> it's a horrible idea. he was fcc chairman at the time, fraud scandals in congress, ended up passing sarbanes-oxley act which imposed new regulations on public companies and had an intended consequences including deterring companies from going public. i don't think that is what we want for a special department for bureaucracy to oversee colleges. we have a department of education which can handle civil rights investigations if there is anti-semitism on campus. however, i would support some kind of legislation that would hold colleges accountable for student loans that are prepaid. that the pressing problem and the federal government does have something at stake in that. paul: i think we need a new agency but that means probably you are going to have to put pressure from trustees who are supposed to be running institutions on college presidents and faculties to tolerate freedom of

securities and exchange commission are joins -- commissioner joins bloomberg tv. this is bloomberg.s are soaring as local markets reopen following the decisive victory of javier milei. mark mobius, president of mobius investment consulting, says these changes can be an opportunity. he joins us now from dubai. thank you for being with us. we talk about the changes he is hoping to bring it includes the dollarization of the economy, potentially shuttering the central bank. what is the investment opportunity in that? mark: it is all about the currency. as you know, if you go into a place like argentina where there is inflation, we were investing at one point when it was about 2000%, and it was very difficult. we had to buy companies on the basis of their book value rather than anything else. at the end of the day it has been a very dangerous place to be with the currency the way it is and with inflation in that situation. now if they -- that is a big if, by the way -- if they go ahead with that it will be an incredible boost for the economy and the country. you will see inflation down d

during remarks representatives and witnesses from the securities and exchange commission discussed oversightrcement. >> adrian -- good morning, everyone. the ranking member is on his way we will have to recess for quick rules on the floor and we will try to keep things going as fast as we can. i appreciate all of your indulgence. subcommittee on capital market coming to order. without

. >>> securiti and exchange commission chair gary gensler testifies now on oversight of his agency before the senate banking and urban affairs

maria: not going to do it but they have to follow certain rules if in securities and exchange commission rule. stacey: very expensive to complement different rules regulations, as you say there are so many things in the world to worry about impact, much more than that. maria: making you sit in podium climate change is bigger threat than wide-open border border terrorists getting apprehend. >>. adam: that is talking point, do good in the world it is so, ub artificial ace ingenerous, rsg, as money manager don't skr esg environmental, social governance issues box checking insincere, completely missing the point. >> you know what is insincere cleanup in san francisco, to make it look beautiful for xi jinping. w. how about citizens in a live there cleanup for them get this a check tv news crew was reportedly robbed covering asia summit in a are san francisco a cameraman covering a shot three masked men approached with guns at stomach and head as gavin newsom slammed after city got a face-lift ahead of summit xi jinping's approval biden being urged meet with city homeless population during tri

coming up, the securities and exchange commission or joining bloomberg 1:00 p.m. new york time. bloomberg. we are waiting for the big one. in video earnings after the close. shares are at a record high. we are dipping a little bit as we come into the numbers. what should we be watching? what should we be anticipating? eat and a raise. that is what everybody is expecting. how big a beat? how big a raise? ruben: a beat and a raise widely expected. supply issues, what impact might that have on the near-term ability for nvidia to supply product to a very large trove of demand? what does the near-term outlook look like? once we get past this quarter, again, assuming that we could get a beat and raise, it is about what is next. to that in that there has been some new expert restrictions around china. -- export restrictions around china. what should we expect and how long can this demand -- those are the types of questions we are getting. we continue to see -- we were at the supercomputer tradeshow last week. really, a lot of demand pent up into next year. the other thing we are watchi

this friday is not just the government shutdown deadline is also in the window for the securities and exchange commission to approve bitcoin etf slammed it shut the mere idea that one could be approved has propelled bitcoin up more than 120% year to date, guess what is bringing along for the ride will bitcoin rising tide bitcoin billionaire capitalist believes the currency is going to rally the trigger $50000 what about solano and the rest and how close are we to the green light bitcoin etf he is standing there live exclusively next, tim was an early investor in crypto exchange coinbase, that stock up 157% year to date. tim draper, the venture capitalist next on "the claman countdown". ♪ (vo) while you may not be running an architectural firm, tending hives of honeybees, and mentoring a teenager — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you help others. so you can live your life. that's life well planned. ♪ students... students of any age, from anywhere. students in a new kind of classroom. ♪ using our technology to power different wa

this administration strangle business with more rules, climate change rules from the securities and exchange commissionigher costs as a result. they're not going to hire more people if they have all these new costs. >> that's right. it's uncertainty. over the next three years the expectation is there will be many more layers. the fed's doing it itself. it's a giant regulator of the banking industry which is getting squeezed out. you know, if you think how do you get to a sustained growth rate, you need small businesses able to borrow working capital. that's the stuff that makes you go in the short run and expand your business and those loans are harder and hashedder to come by from banks because they're under the weight of their housing portfolio, their commercial real estate, and the fed's making it harder with regulatory policies. maria: it's a general tightening going on, credit tightening in the banking sector, people feeling it. >> that's right. a little bit offset -- all people talk about is what are they going to do on interest rates. it's more important what they do on regulatory policy and on

the us securities and exchange commission subpoenaed musk for more information on his $44 billion purchasef the social media site. his legal team called the sec subpoena duplicative and harassing demands. >> as a group of south bay business owners are taking matters into their own hands to block unhoused people from parking rvs in front of their buildings. they put up these large concrete blocks on both sides of jury court in san jose. the business owners say they're trying to combat growing issues, including arguments and break ins on the street. some housing advocates say the move is a, quote, shame and a way of mistreating the unhoused. mayor matt mehan blames the issue on a lack of resources. >> we've got to build out these alternatives to encampments and lived in vehicles and we've got to do it faster. we've got to do it more cost effectively. >> mayor mehan says he's working on a shelter crisis declaration to get things moving faster. for now, the businesses will have to remove the blocks. >> a traffic alert in the east bay this weekend. a section of southbound interstate 680in pleas

and is that the level of maturity you want? rishaad: thank you very much indeed. annabelle droulers with us. the securities exchange commissionnsecured security exchanges, getting more with the crypto industry later this hour. at first we will be talking about markets, pendal group telling us why they think the fed may have done too much. this is bloomberg. ♪ the chase ink business premier card is made for people like sam, who make- everyday products, designed smarter. like a smart coffee grinder, that orders fresh beans for you. oh, genius! for more breakthroughs like that- i need a breakthrough card. like ours! with 2.5% cash back on purchases of $5,000 or more. plus unlimited 2% cash back on all other purchases. and with greater spending potential, sam can keep making smart ideas- a brilliant reality! the ink business premier card from chase for business. make more of what's yours. you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh that first time you take a step back. i made that. with your very own online store. i sold that. and you can manage it all in one place. i built this

and bring that to our attention. that's the first thing. under the securities law, we are not necessarily subject to direct regulation by the securities and exchange commissiont we are subject to the annex fraud commission of the securities law. what that means is that we can't release documents, preliminarily official statements offering documents to the public that contain materials or misstatements or omissions. what the fcc will do in the event that our document was challenged anyway will tests not only the substance of what we did, but also the process, and so your role at some level is process oriented. so the documents that have been presented to you, you are viewed as gate keepers as far as this is concerned and the hot button issues as far as this development is concerned they expect you in your capacity as board members to take a look at the document to make sure it squares with your understanding. so big issues, nature of the development, litigation, condition of treasure island, those types of things, they would expect if you had knowledge that it was different than what we are presenting that you would bring that to our attention so we can corre

the securities and exchange commission proposed the so-called climate disclosure rule, which would require a new level of burdensome, costly emissions reporting. now who will this rule impact the most? not big business as my colleagues on the other side of the aisle would like people to believe. instead, all of these new compliance costs as with almost every new rule and regulation imposed by this biden administration will be felt mostly and most painfully by small business owners, farmers and independent manufacturers. now let me be clear, this misguided rule will hurt hardworking americans and hinder economic growth when we should be focused on creating jobs and lowering inflation. the bottom line is this, main street can't afford the biden economy. the american people can't afford it. and hasn't stopped this administration from plowing ahead with more bans, phaseouts and regulations from internal combustion engines to gas stoves. in a state to thanks on our governor is one step ahead of the biden administration in eliminating natural gas as affordable and reliable source of clean energy

securities and exchange commission an institution central to upholding the integrity, transparency and stability of the nations capital market. the deepest and most liquid serving as a cornerstone of our economic growth and prosperity. the markets are already among the most heavily regulated sectors in our economy. for the utmost diligence in the rulemaking activities intervention must narrowly address loan market deficiencies without inadvertently causing harm or disruption especially in times of economic stress and uncertainty. regulators should not use their position to experiment with academic projects. transformative changes must be meticulously crafted and thoroughly vetted to account for indirect cost and cumulative effects and only undertaken when explicitly authorized by congress. we have observed the departure from this approach under the current leadership led by chair gansler. in the recent months the subcommittee has undertaken an examination of the actions. including those overseeing the management, corporation finance, trading and markets and economic and risk analysis.

am increasingly worried that we should be more worried about derivatization of the securities and exchange commission. looks more and more like not an impartial regulatory body protecting investors and consumers put a regulatory body using his power to silence political rivals of the current president of the united states. i have one final statement -- final question. have you spoken to anyone at the white house about your investigation of donald trump's truth social. mr. gensler: i don't speak to the white house about anything in our enforcement or investigions. sen. vance: you for the answer. i am mindful for the time. i have little hope that i could persuade you that hiring committed partisans and using the regulatory powers of the sec in a way that looks and is politically partisan is a te threat to american democracy. maybe i can appeal to your sense of self interest. if you has use the sec in a politically motivated way, eventually you will be out of power. turnabout is fair play. mr. gensler: i am very proud of the agency and the division of enforcement and my fellow commissioners in consideri

. >>> securiti and exchange commission chair gary gensler testifies now on oversight of his agency before the senate banking and urban affairs economy. how emerging technologies in particular artificial. he cited rampant misconduct in the exchange of crypto currency. this hearing is just over two hours. >> the senate committee will come to order. welcome back chair gensler. americans count on markets to provide for their futures. have answered to the interests of e powerful few on wall street, big banks, private fund managers, corporate executives looking to keep profits for themselves instead of investing in their workers, in innovation and american prosperity. risk further concentrating power at the expense of american savers. fraud stores uscyber attacks and deepfake ai technologies to scam. faced with unfair playing field that favors entrenched wealthy interests over hard working americans the sec has itwork cut out for it to protect families whose hardearned savings are invested in the market. many have suggested sec has been moving too fast rently. we've heard the complaints. i'm su

stays broken, this is an opportunity for everyone else to catch up, but i think from a securities and exchange commission that's going on in the category that we've seen, which is that companies that have monopolies of huge markets are using their balance sheet to fund startups in adjacent spaces they want to dominate if you look at the funding of anthropic, the funding of any of the competitors, it's all the same basic model, that people who are big beneficiaries of growth in this category, namely nvidia and the folks who own cloud services, are providing financing at high values hoping to then attract cash investors to follow that and, you know, all with the goal of building giant monopolies where most of the value is captured either in the semiconductors by nvidia or cloud services by microsoft and others you know that's a well-worn path for creating incremental monopoly value but at some point you can imagine somebody saying, you know, maybe that's not best way to develop. >> when they say goliath is winning it applies here. that's for sure. have a great holiday great to chat with you thank you. >> b

the securities and exchange commission says the firm is authorized to properly offer securities thereg to address the growing number of online entities soliciting investments without the required licenses. haidi: turning to x, formerly known as twitter, elon musk has issued a rebuke to advertisers who stopped the platform. this is about the fallout of elon musk's endorsement of that antisemitic post, which he has apologized for, but he is hitting at advertisers were dropping their sponsorships? annabelle: that's right, this is getting the focus of his attention. he has been speaking at a conference hosted by the new york times, and some of the headlines coming through from that relate to the focus and the attention he is putting on the advertising exodus. since the platform a year ago, we have seen 60% of advertisers leaving, but it has identified in the wake of him endorsing that antisemitic conspiracy theories two weeks ago. . the fallout from that, we saw rbn suspending their ads, apple, disney, lions gate, the european commission soon followed. you saw the pickup in threads, matta

increasingly worried that we should be more worried about the weaponization of the securities and exchange commission. it looks more and more like not an impartial regulatory body detecting investors and consumers, but a regulatory body that is using its power to lence and in misery political rivals of the current president of the united states. i have just one final question on tt, chairman gensler. have you ever spoken to anyone at the white house about your investigation of donald trump's truth social? >> sir, i don't speak -- mc yes or no. >> no, i'm going to answer the question. i don't speak to the white house about anything in our enforcement. or investigations. >> so i mindful of, thanks for the info. i miful of the time here. let me just offer one final observation. i have little hope that i could persuade you that hiring committed partisans and using the regular tory powers of the s.e.c. in a way that looks, and i think is politically partisan is a true threat to american democracy, but maybe i can appeal to your sense of self interest. if you guys use the s.e.c. in such a politically motiv

and bring that to our attention. that's the first thing. under the securities law, we are not necessarily subject to direct regulation by the securities and exchange commissionto the annex fraud commission of the securities law. what that means is that we can't release documents, preliminarily official statements offering documents to the public that contain materials or misstatements or omissions. what the fcc will do in the event that our document was challenged anyway will tests not only the substance of what we did, but also the process, and so your role at some level is process oriented. so the documents that have been presented to you, you are viewed as gate keepers as far as this is concerned and the hot button issues as far as this development is concerned they expect you in your capacity as board members to take a look at the document to make sure it squares with your understanding. so big issues, nature of the development, litigation, condition of treasure island, those types of things, they would expect if you had knowledge that it was different than what we are presenting that you would bring that to our attention so we can correct it. otherwise

and misses of the week, kyle first you. >> i'll give a miss to security in exchange commission and chairman gaird who lost a lawsuit at theurt of appeals case involve a new regulation requirings public companies to disclose their daily stock buybacks including motivation behind them. the judge said that it was arbitrary and capricious and rejustify it and thank goodness for all of the federalist society judges keeping administrative state honest, and racking up a string of losses for biden administration. >> mary. >> i'll give a hit for prosecutors this week who won the conviction of san bankman-fried on 7 counts of fraud. the founder of the cryptocurrency exchange ftx claim he was practicing a new kind of and he was a hero of progressives but turns out that it's still against the law to borrow unauthorized from your customers medical record to cover your losses. and as the u.s. attorney said, this was the kind of corruption that is as old as time. >> dan. >> a miss to democratic mayor brandon johnson of chicago and mike johnson of denver who visited the white house this week asking for an impossible $5 billion in aid to

provide services, today has no impact on their product offering and they fundamentally disagree with the sec claims. the security exchange commissionen of a wide range of violations a year after the $30 million settlement with kraken over other alleged misconduct. this latest salvo against the crypto sector, they said they had a commingled customer assets with their own, paid expenses from bank accounts that held customer cash as well as alleging they are operating as an exchange, broker, dealer, and clearing agency without proper registration. still ahead citigroup is slashing hundreds of senior management roles as part of the biggest overhaul in decades. we get an update on the shakeup later this hour. shery: next, satya nadella talks about hiring sam altman as openai staff threatens to dropship if there founder does not return -- threaten to jump ship if there founder does not return. >> we continue to be committed to openai and committed to sam and the team irrespective of where they are. haidi: microsoft chair and ceo satya nadella says sam altman and greg bachman in the process of joining the firm. nigella says he remains con

hard cash in exchange for promises in a change of future behavior tomorrow and every time they never deliver. maria: and you're releasing the u.s. china economic security review commissionreport today, pushing three main policy recommendations. one, to implement a 25% tariff on all chinese produced electronic products. that's what the trump administration did. it was very effective. a full ban on all chinese mobile apps. you'll be hosting a hear to investigate the national security threat posed by tiktok and other chinese apps. tell us more about what should come out of this. there's the economic lever to push as well, right? all a of those companies that are embedded in the u.s. etfs and index funds, some of which by the way are already sanctioned in the united states. these are chinese companies tied to the chinese military. how come the administration doesn't do anything about that? are american investors not funding the expansion of our number one adversary by doing this, by having all these companies and our etfs and index funds? >> you're exactly right. we are way past due the time to significantly recalibrate our entire tech trade policy towards china. i recommen