chairman harvey pitt.hanks for joining us, especially after the comments from carl icahn and blackrock earlier. we wanted your perspective have regulators been too lax >> i don't think so at all i think we're seeing a market corrections. there's a lot of volatility but a part on regulators to deal with any of these issues that they see the need for that >> the other thing i wond he, we're reminded -- finra fined wells fargo $3.4 million for advisers recommending volatility products from 2010 to 2012 it looks like they were making moves on this but is that as far as it was going to go? now do they establish that as some precedent and start to go after these existing products? what do you think? >> i think finra's action will stand this precedent and the regulators will look at the trading that's taken place over the last few days and try to assess how much of that was the product of either improper sales activities or failure to make appropriate disclosures to the people who bought some of these highly leve

plus the future of regulation, former scc regulation harvey pitt will join us.uawk on the street" will continue after this. see that's funny, i thought you traded options. i'm not really a wall street guy. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade >>> welcome back, one of the highest fliers in the crypto world. the fcc raised concerns about companies that pivot to blockchain without a credible business plan. it turns out there is one investor in particular that got in and out at the right time >> we went looking for barry hoaning because he once evened half a million shares before

attorneys i spoke with said you need to file within 24 hours, 48 hours, and harvey pitt today, who used to run the e.c. said ten days maximum >> again, i'm not an attorney. i do have a law degree, a very dangerous distinction, but this was an interesting point right at the beginning of your piece you noted that the annual meeting had been postponed twice. and they had put out that this was the annual meeting, at the boca resort and club then they postponed it but you talked to management at the boca resort and club and they denied that any meeting space had ever been reserved so there may be some legality there on putting out a public document stating that there's a meeting at that time and place with a publicly trading company when in reality, according to the resort, it was never scheduled. >> we were exhaustive at the resort we checked under executives' names, the two former company names. john o'rourke's name, et cetera, and they told us they have no record of any affiliated party booking rooms for those specific meetings >> such a great -- that empty hallway is such a great advice