company cambridge analytic according to the washington post the widening probe now includes the securities and exchange commission the f.b.i. and the federal trade commission facebook has come under pressure after a whistleblower revealed that british company cambridge analytical had collected personally identifiable information of up to eighty seven million facebook users without their consent the data could have been used to influence voters in several countries. and prices for u.s. crude have jumped to over seventy five dollars a barrel for the first time since twenty fourteen that's after iran's president hassan rouhani suggested oil shipments from neighboring countries could be disrupted if washington forces all of its allies from buying uranium oil saudi arabia pledged to fire up its spare production capacity though and coordinate deliveries with other producers to balance the market opec and. non-o. producers agreed last month to boost output after reducing production last year to ease the global glow. now the white house says the car industry is one area where the e.u. is clearly taking advanta

banking system going straight to mobile money well all the jurisdictions the leapfrogging securities and exchange and going straight to where we want to be and that's what bank of the future has been working on and we've been off in the question you know is focusing on the us the right strategy is that the right approach well it depends where they go from here and what happens next but if not the whole business texans willing to field fit for purpose the this in the way the market is once and once it's done well let me ask you about. you know africa you know you mention ampacity in africa and of course we know bit paisa we've been involved in for helping to finance that company and recently a bank the future are good friends a bit mari were able to raise some funds there now got a banking i guess a banking license and zimbabwe so i mean this is part of the great thing about the sinister simon is not only are you disrupting the banking industry as you've stated you know in your book when you started out but you're also changing dynamics in the global finance in a big way so africa potentially coul

the banking system going straight to mobile money well other jurisdictions the leapfrogging securities and exchange and going straight to where we want to be and that's what the future has been working on and we've been off in the question you know is focusing on the us the right strategy is that the right approach well it depends where they go from here and what happens next but if not the whole business texans willing to field fit for purpose the this in the way the market is once once it's gone let me ask you about. you know africa you know you mention empath in africa of course we know bit paisa we've been involved in for helping to finance that company and recently a bank the future are good friends a bit mari were able to raise some funds there now got a banking i guess a banking license and zimbabwe so i mean this is part of the great thing about the senator simon is not only are you just dropping the banking industry as you've stated you know in your book when you started out but you're also changing dynamics in the global finance in a big way so africa potentially could be the whole contin

the fbi, securities and exchange commission and the justice department are now involved. investigation reportedly centers on why facebook didn't disclose in 2015 that cambridge analytica improperly accessed the data of 80 million users. >> lyft bought the largest bike sharing company in the u.s. it also operates in chicago, boston and washington defendant c. among others. it's unclear when motivate's bikes will be available in the lyft app. >> very popular in the studio. thanks so much. >> thanks. >> still ahead, a new perk. why you might want to go for a second cup of coffee for breakfast this morning. kfast this morning. watch me. ( ♪ ) mike: i've tried lots of things for my joint pain. now? watch me. ( ♪ ) joni: ink i'give up owin these guys how it's done? please. real people with active psoriatic tis ging the way they fight it. they're moving forward with cosentyx. a different kind of targeted biologic. it's proven to help people find less joint pain and clearer skin. don't use if you are allergic to cosentyx. before starting cosentyx you should be checked for tubercu

you've got the fbi, you've got the securities and exchange commission and the federal trade commission all joining the department of justice in its inquiries. looking into how the personal information of 71 million americans was shared. joining me now, "washington post" silicon valley correspondent elizabeth dewarskin. what are the federal investigators looking for? is it what face book knew then, three years ago, or the discrepancies in their most recent accounts? >> well, exactly, it's pretty fascinating. we have, a couple of months ago, we have mark zuckerberg, facebook ceo, testifying before congress. he's hauled before congress. he really doesn't want to go. the senators are asking him question after question. in the back of my mind, as a reporter, is what are going to be -- what are the consequences of this going to be. and it turns out several months later that shortly after we knew that the federal trade commission, which regulates privacy issues, was investigating facebook. and now we've learned that it's the fbi, the department of justice, and the security and exchange commis

that is the model of the whistleblower program at the securities and exchange commission and the internal revenue service. these programs have met with a $970,000,000.3 and six tenths billion dollars respectively in recovering sanctions and revenue loss to the tax fraud. when these agencies work with whistleblowers, they succeed and of course there's always room for improvement and that is what the congress is supposed to be doing. every step of the way i've been doing oversight on these programs and pushing them to do even better. they need to complete their investigations and take timely and complete reward and i'm pleased earlier this year congress passed by an amendment to ensure the irs whistleblowers are not short chase. my amendments clarify the recovered funds that is used for the reward known as collective proceeds includes unpaid taxes under title 26 and finds and penalties collected under the criminal and civil cases. none of these proceeds would havproceedings thathave been coe whistleblowers help and congress also approved the amendments to end the double taxation of securiti

security and exchange commission is investigating the social net work. the wants to know if facebook told investors about the mishandled data. neither are commenting on this investigation. >> lady gaga has a new start up and has the back of silicon valleys top venture firm. made an early investment in house beauty. the amount of the investment is unclear. as well as what lady gaga's role will be in the company. >> one of the most anticipated award shows of the year. emmy nominations are out. you might be able to guess who's leading the pack. game of thrones. do you watch? >> too scary. >> game of thrones topping the field with 22 nominations. the hit series which has won many awards returns with a punch after missing the deadline to be el eligible last year. this is us and hand maids tale. the emmys air september 17. >> i need to get on board. >> still to come. 'lbe right back. hi! are you two getting along? oh, yeah, yeah. [ hiss ] [ gasps ] [ birds chirping] ♪ no matter what you are they're a perfect match. the new ipad and xfinity stream app. hey guys,

the fired technician martin trip has reportedly filed a complaint with the securities and exchange is l used dangerous batteries in its cars. sla fired trip last month and sued him for allegedly hacking into the company's computersyst. in e-mails elon musk told trip he should be ashamed of himself and he was a horrible human being >>> peninsula congresswoman jackie speier is undergoing surgery tomorrow. her office isn't saying what kind of surgery. she'll be recovering at her home in san mateo company. she's represented the 14th district since 2008. >>> first responders at yosemite honored for putting their lives on the line. you might recall back in september tons of rocks slid down the face of el capitan and killed a man. first responders rushed into the rock fall zone to rescue climbers. three rescuers arrived first on the scene, firefighter nick bliss and two park rangers. the u.s. secretary of the interior presented them with the valor award for their bravery. amazing job they all did. >>> let's get a check of our forecast. it did feel a few degrees cooler today. >> just a couple

cases involving giants like apple, the securities and exchange commission, even a company walled walls like arbitration, fraudulent scheme claims, antitrust damages and copyright infringement. the supreme court already set to hear those four cases and at least 34 more in its upcoming 2018-2019 term. and if confirmed, what impact on the business world will the president's newest pick have? the cato institute's ilya shapiro, editor-in-chief of the cato supreme court review joins us now. let's put up the four judges that scotus watchers believe and it's pretty much leaked that people believe are the final four. as we look at these, number one, how important from a business or investor standpoint is the next supreme court justice pick that will be announced tonight? >> well, very few cases, business cases generate headlines or even generate some of the 5-4, left-right splits that everyone talks about. this court has, the roberts court has become known as one of the most business-friendly or market-friendly courts, and that's because often they're simply correcting lower courts that are in

the securities and exchange act of 1934 requires most s.e.c. registrants to file a form 10-q quarterly report with the s.e.c. the form 10-q includes condensed financial information and other data prepared by a company and reviewed by independent auditors. although technology has evolved rapidly over the years, the form 10-q use aed today was adopted in 1950. my legislation, h.r. 5970, the modesh -- modendizing disclosures for investors act requires the securities and exchange commission, s.e.c., to report to congress the cost and benefits of form 10-q and recommendations for decreasing costs while increasing transparency and efficiency of quarterly financial reporting. specifically my bill requires the s.e.c. to look at emerging growth companies who are particularly susceptible to the burdens and complexities associated with current reporting requirements. in recent years annual and quarterly reporting requirements have grown in size and complexity. making it more difficult for investors to determine relevant information. often leaving them over

cambridge analytical according to the washington post to the widening probe now includes the securities and exchange commission the f.b.i. and the federal trade commission facebook has come under pressure after a whistleblower revealed that british company cambridge analytic or at calais. that personally identifiable information of up to eighty seven million facebook users without their consent or data could have been used to influence voters in several countries. and prices for u.s. crude have jumped to over seventy five dollars a barrel for the first time in twenty fourteen that's after iran's president hassan rouhani suggested oil shipments from neighboring countries could be disrupted of washington forces all of its allies from buying arabian oil saudi arabia pledged to fire up its spare production capacity and coordinate deliveries with other producers to balance the market opec and non opec producers agreed last month to boost output after reducing production last year to ease a global. that's all for business but brant has the latest on sports and of course the world cup threat to. the world

exchange. a market design specifically to support the trading of small and emerging companies arks well as currently listed but liquidity challenged securities. these venture exchanges will trade venture securities which include early stage and emerging growth companies, as well as securities currently trading in the marketplace, but are below a certain public float or average daily trade volume threshold. in my home state of minnesota, there are more than 30 companies currently listed on an exchange that may meet the necessary criteria to explore the benefits of a new venture exchange as envisioned by this legislation. additionally, there are over 130 minnesota-based companies that are not listed publicly and have utilized private means of funding for their businesses, but could qualify to list on a venture exchange to improve their ability to create new growth and employment opportunities. the main street growth act includes important provisions to concentrate liquidity by ensuring that the trading of securities listed on a venture exchange may only occur on that venture exchange. also, utilizing the current exchange model serves as an eff

. >> next a house oversight hearing with the chair of the securities and exchange commission jake layton. he was asked about several issues. also the process for initial public offering and the potential use of watching technology to protect financial data. this is two hours 45 minutes. >> members are asked to take their state. without objection the chair is authorized to clear a recess at any time and all members will have five legislative days to submit materials to the chair for inclusion in the records. during the oversight i now recognize myself for three cap minutes to give an opening statement. i think we all know the fcc has a well-established three-part mission to include investor protection, maintenance of fair, orderly and efficient markets, and the promotion of capital formation. unfortunately in the recent past the latter mission has reached the short shrill. that's why i'm grateful to chairman clayton for his leadership in devoting more time and attention to the capital mission. although our economy is clearly red-hot today there are some worrisome signs that we must confro

let me read exactly what the mission of the securities and exchange commission is. the mission is to protect investors, maintain fair, orderly and efficient markets and to facilitate capital formation. this does nth fit into the securities and exchange commission. with that being said, nothing, let me repeat that, nothing prevents companies from sending this information if it is important for them to make sharese sure or for their holders to vote that way. they should remain free to make that decision as they decide is the best course for that particular company. with that, i reserve. . . the chair: the gentleman reserves the balance of his time. the chair recognizes the gentleman from california. mr. carbajal: thank you, mr. chairman. this is not about shaming anyone. this does not restrict free speech or the ability of corporations to engage in political activity. it only allows the s.e.c. to require disclosure of corporate political spending. a little bit of transparency, providing disclosure to the public. so that they clearly know the company they are investing

now to capitol hill, where the chair of the securities and exchange commission, testified at an oversight hearing last week. houseeeting of the financial services committee is about one hour and 45 minutes. [captions copyright national cable satellite corp. 2018] >> members are asked to take their seats. the chair is authorized to declare a recess at any time. all members will have five legislative days to submit extraneous material for inclusion. i now recognize myself for 3 1/2 minutes to get an opening statement. i think we all know the sec has a well-established three part mission. to include investor protection, the maintenance of fair, orderly , efficient markets, and the promotion of capital formation. unfortunately in the recent past the latter aspect of the mission has received a short trip. shrift. i am very grateful to chairman clayton for his leadership and devoting more time and attention to the capital formation mention -- mission. although our economy is clearly red-hot today, there are recent -- worrisome signs we must confront. number one, as recently as 2016 entrepreneur

securities and exchange commission... federal trade commission... and department of justice are now all looking into how the ulting firm, >>> the facebook data scandal is still under investigation. the fbi, sec, federal trade commission and department of justice are looking into how cambridge analytica obtained personal data of up to 71 million facebook users and americans. >>> new this morning, good news for coffee drinkers. according to a new study, drinking coffee boosts your chances for a longer life. the study from the u.s. national cancer institute involved nearly half a million british adults and shows coffee drinkers had a lower risk of death over ten years than people who didn't drink coffee. the benefit was seen with instant, ground and decaf coffee. thousands of antioxidants in coffee may explain the results. >>> this morning bay area officials are concerned setting off fireworks tomorrow kethings quality. >> reporter: officials are asking folks to not set off fireworks, but go to public fireworks shows instead. we have been dealing with a

securities and exchange commission saying that not only has the car maker inflated car production numberstalk about those a lot of times on the program but there is a controversy for with regard to these batteries and he says that tesla has been honest with investors related to safety laws including the batteries artie's then call and takes a more in-depth look at the fiery problem for the automaker. these popular cars are becoming more accessible to average consumers but like so many products they come with unexpected risks on march twenty third a tesla model x. selectric car crashed on a california highway the car burst into flames soon after causing injuries that would kill its driver firefighters struggled to extinguish the flames days later the fire reignited while the car was impounded before firefighters managed to put it out and on june fifteenth t.v. actress mary mccormick shared this video of her husband's tesla on fire on the santa monica boulevard in los angeles she said in a tweet no accident out of the blue and was glad their three girls were not in the car while gasoline po

s. 488 helps small businesses grow by encouraging capital formation and requires the securities and exchange commission to consider unique issues facing rural small businesses and small investment advisors. when entrepreneurs are looking to retire, s. 488 allows them to easily sell their businesses. the bill also requires several rule makings and studies to encourage small businesses to go public, including by protecting them from excessive underwriting fees. main street investors and consumers also benefit from s. 488. one provision which i authored cracks down on corporate insiders engaged in illegal insider trading. democrats also led provisions to enhance disclosures about outsized insider voting power. the bill also create ats task force at the s.e.c. to protect seniors an their financial best interests. additionally, the bill helps nonprofits like habitat for humanity continue to extend affordable mortgages to low income families aspiring to the dream of home ownership. thanks to mr. ellison, the legislation allows millions of americans with thin credit files to improve and build their

charles: the securities and exchange commission is facing questions and what it knew and wait did withanalytica. 7. charles: markets soared. the major averages up 5 of the last 6 sessions. nasdaq at a new all-time high. the s & p 500 at its highest level since groundhog's day. our familiar, is here. paul, great to see you. it's interesting. the headlines are always bad news. the headlines are doom and gloom as it revolves around the trade situation. nasdaq is at an all-time high. the russell is not too far. the dow is also one point away from getting back to all-time highs. >> the last time i was opposite was right at the february lows. but i said at the february lows, everything is going back to their highs. nasdaq, mids, small, already at new highs. s & p is coming this month or early august. the dow will take a little longer. i see early signs. indices look good. the sector leadership is concerning. banks kind of stink. discretionaries are very good. transports. the banks are the troubling part of this. charles: we'll talk about banks in a moment. i want to pick up on this idea ther

that means independent regulatory agencies, like the securities and exchange consumer and the protection safety commission, would have to submit their rules for the office of management and budget for review which could undermine their independence. section 12 of the bill would require an agency to perform a retrospective review, including an additional cost-benefit analysis of any existing rule if requested by the chairman or ranking member of a committee. the congressional research service found that there is a tenable argument that section 12 is unconstitutional. c.r.s. said, and i quote, it certain rgued that members with the authority to demand that report under to trigger the bicameralism and the presentment requirements of article 1. these flaws are reason enough to oppose this bill, but the most important reason is that we rely on agency rule makings to protect our children, protect our workers, and protect our economy. the coalition for sensible safeguards, a group of more than 160 good government, labor, scientific, faith, health, and community organizations sent a letter to co

maria: fallout for facebook the fbi securities and exchange commission each reportedly investigating ead, as feds breathe heavily on facebook lakers tickets heating up thanks to lebron fans can't get his number 23 jersey just yet later this hour. >> ♪ in the usa, hey ♪ ♪ the usa -- usa ♪ [music playing] (vo) from the beginning, wells fargo has supported community organizations like united way, non-profits like the american red cross, and our nation's veterans. we knew helping our communities was important then. and we know it's even more important today. so we're stepping up to volunteer more and donate over a million dollars every day. so our communities can be even stronger. it's a new day at wells fargo. but it's a lot like our first day. if you're approaching 65, now's the time to get your ducks in a row. to learn about medicare, and the options you have. you see, medicare doesn't cover everything - only about 80% of your part b medical expenses. the rest is up to you. so if 65 is around the corner, think about an aarp medicare supplement insurance plan, insured by unitedhealthcar

. >> next a house oversight hearing with the chair of the securities and exchange commission jake layton. he was asked about several issues. also the process for initial

tesla employee accused of stealing trade secrets filed a whistle blower complaint with the securities and exchange commission. tesla is suing martin trip for a million dollar. the lawsuit claims trip stole trade secrets and shared them with third parties. tesla also accuses strip of leaking false information to the media. the former employee claims the company misled investors. >>> a new report says senator dianne feinstein did not report her husband owned 100 thousand dollar in facebook shares before mark zuckerberg testified in front of the u.s. senate. she was one of four senators to deliver opening remarks ahead of the testimony in april according to nus source sludge, she says she doesn't discuss financial transactions with him. >>> bay area congressmen plans to spend the next two weeks at home. she confirmed she will miss two weeks of votes in congress. spear has been in the u.s. house of representatives since 2008. her district includes parts of san francisco and san mateo county. >>> our time is 5:41, the first full day for london breed as the new mayor of san francisco and her schedule to

"the washington post" reports the fbi, security and exchange commission, and the federal trade commissionustice department's probe into why facebook did not disclose that tens of millions of users had their data improperly accesses by cambridge analytica. facebook says it's cooperating with the investigation. >> 6:48 now. and police are reminding neighbors in one sonoma county neighborhood to watch out for mountain lions, after a big cat was spotted in someone's backyard. it happened in sebastopol friday morning. the mountain lion was seen milling around after climbing a fence near florence avenue. officers responded and didn't find the animal. >> fire in moraga -- firefighters in moraga are watching for flare-ups from a grass fire that forced evacuations. it burned more than 45 acres, a block from campo linda high school yesterday afternoon. the which fefhtsec. >> a reminder to keep and protect your digital device when riding b.a.r.t. b.a.r.t. says passengers were robbed or had their phones stolen this weekend at the coliseum station in oakland and the powell, 24th street, and balboa par

the former employee, martin trip, has filed a formal tip with the securities and exchange comission. t elon musk's car company misled investors and made faulty batteries. he alleging that tesla overstated production of model 3 vehicles, allegedly inflating the numbers by as much as, get this, 44%. musk of course accused trip of attempting to sabotage the company. he filed a lawsuit against trip for allegedly hacking its computers. shares of tesla higher in the premarket, up more than 1 1/4%. sears is tightening its best once again as -- belt once again as the financial struggles continue. the company is laying off 200 more workers, most of the job cuts coming at the headquarters in illinois. the ceo says the move is aimed at returning the company to profitability. last year sears turned a profit was in 2010. since then, they have been closing thousands of stores. shares of sears more than 30% to the downside for the year. that's the year-to-date chart in front of you. and then finally there is this, a heart-warming moment when a 95-year-old air force veteran shows no fear when teachin

"the washington post" reports the fbi, securities and exchange commission, and the federal trade commission are now involved. they join the justice department's probe as to why facebook didn't desclose that tens of millions of users had their data improperly accesses. facebook says it's now cooperating with the investigation. >> berkeley police are alerting neighbors to a rash of car break-ins. take a look. thieves hit 35 cars over the weekend in the five areas you see indicated with the red dot. they're all in the northern part of the city. police say the thieves either smashed the window or got in through an unlocked door. the burglaries happened saturday and sunday night. >> a warning for homeowners in the south bay. the mail that could be a scam. >> hey, boy. how are you, buddy? how are you doing? >> it's a great reunion. a san francisco police officer back with his >>> you're never more than seven minutes away from your forecast. >> this is a brk y 7 mornings. >> i want to go back to yesterday, take a look at the visible satellite. you can see had smoke from the county fire getting pus

dollar disciplines from our members and african-americans at large, we were approved by the security and exchangemission to establish what's called an electronic funds transfer -- trading entity. we were -- our brand will be traded on the new york stock market and we'll be measuring company's diversity. we licensed that operation out to the third party fund manager to ensure that the quality of the corporate's citizenship reflect the customer base. >> i think one of the things that we have already seen in your leadership and many of us are aware of your leadership over the mississippi naacp even before becoming the national leader is that you work with other groups. you work in coalition. but you believe in staying on the ground, grass roots. is that what we can see as we go into these midterm elections, into 2020, and with the concerns of criminal justice and policing and economic rights around the country, particularly for people of color? >> well, you know, martin luther king had a powerful voice. he inspired but it was the fanni hamers that changed the way that america included african-americ

. >>> the securities and exchange commission is looking at what facebook told its investors about thee data mining firm cambridge analytical. the wall street journal says the secretary requested information on how much facebook knew about cambridge analytical knew about user data. that was affiliated with trump's 2016 election campaign. a got access to data on up to 27 million facebook users. both facebook and the ftc could the client comment. >>> x-rated movie star stormy daniels was released from jail. coming up, why her attorney says it was a politically motivated. >>> a chaotic scene at malls across america. thousands lined up for the build-a-bear promotion that allowed children to pay their age. >>> so many destructive wildfires have happened, people have said they are clearing brush now. how a nap but neighborhood is saying it friendly. >>> closed captioning is brought to you by mancini, enjoy the comfort mattress sale . visit sleep world.com. if yyou need to stay downeaway from it. call 911. let our first responders come out and handle it. police and fire will respond as well a

. >>> new at 6:30, the securities and exchange commission is reportedly looking into what facebook toldout privacy lapses involving the data mining firm cambridge analytica. the "wall street journal" says the sec requested information on how much facebook knew about cambridge analytica's use of user data. that company was affiliated with president trump's 2016 election campaign. it got access to data on up to 87 million facebook users. both facebook and the sec had no comment. >>> on wall street, stocks rebounded today following yesterday's sell-off linked to concerns about a trade war with china. the dow was up 224 points. the nasdaq was up 107. the s&p was up 24. >>> coming up, adult film star stormy daniels arrested at a strip club. up next tonight, hear from tmz about what happened. >> she wasn't a regular. and we have been trying to get an answer from the police. >>> charges against adult film star stormy daniels have been dropped. she was arrested late last night at a strip club in columbus, ohio. police say daniels, who is stephanie clifford, made physical contact with patrons wh

. >> the security and exchange commission which mob monitors potential abuses says currently penaltiesnduct and at present, the sanction is simply akin to asking someone to put the cookies back in the cookie jar. >> in tonight's money matters, the biggest insider stock trading case ever. >> investment banker dennis levine collected $12.5 million in illegal profits by gaining advanced knowledge of 54 pending takeovers. then from a phone booth, he'd call an accomplice in the bahamas who would buy stocks in the names of two dummy corporations in panama. >> it was the first time the s.e.c. has been able to nail down insider trader. somebody with a million dollar a year salary which apparently wasn't enough. >> insider trading could become wall street's watergate. >> plea bargaining is now under way with dennis levine. authorities might be able to develop a list of new suspects. >> we start the investigation, and once his lawyer advised him that his interest to cooperate, he would give you the information. to him, it was just another deal. >> i think the judge made it clear that he would ha

cambridge analytic according to the washington post to the widening probe now includes the securities and exchange commission the f.b.i. and the federal trade commission facebook has come under pressure after a whistleblower revealed that british company can bridge analytical and collected personally identifiable information of up to eighty seven million facebook users without their consent the data could have been used to influence voters in several countries. and the french banks so see if the asian in aisle is buying the equity markets and commodities this is of germany's specked the acquisition still needs regulatory approval and would enable the french institution to expand its operations in europe's largest economy the news comes after rumors that germany's largest and most troubled lender deutsche bank had been considering a merger with comments like. that's all for business it's back to fill a former world news thank you for syria's neighbor jordan has refused to open its borders to any more refugees from the country despite a new offensive to retake daraa province in the south by russian

the securities and exchange commission has proposed a pilot system and the debate between investors andxchanges is heating up. erik schatzker talked with a guest about the exclusive debate. order is a pension fund order or asset management order, the broker keeps the rebate. public data now shows that the exchange that pays the most in rebates has the worst execution the largestare exchanges. people are starting to question whether the rebate system, paying people to trade come is the best system for us. so a pilot has been proposed to test the elimination of rebates. you have huge support from investors, support from some brokers as well. you have the same camp of exchanges in certain traders that are against it. >> it seems as though the rest of the exchange industry and for that matter, some market, and i'm talking about the nasdaq, they are all lined up against you. is there no, ground at all? brad: in this case, i don't think so. rebates, theor exchange is so important to their business model, they don't make a lot of money from trading. they make money by selling high-speed data t

. >>> the securities and exchange commission is reportedly investigating whether facebook adequately warned investors about the cambridge analytica scandal. according to "the wall street journal" the sec has requested information from facebook about how much it knew about the use of data of up to 87 million users. the s.e.c. also investigating how facebook analyzed the risk it faced from developers who shared data in violation of policies. >>> the justice department is appealing a judge's approval of at&t's merger with time warner. last month a judge ruled that merger could go ahead, saying the government failed to show the deal violates any antitrust law. the merger was completed a few days later. >>> we're learning more about those boys stuck in a cave in thailand for nearly two weeks. just ahead, the new video and e one trick the coach used to help keep the boys calm during the rescue. plus -- ready? >> wow. ready or not, these are the lines that went on and on and on, all to get a good deal on a teddy bear. and you know what? it's not over yet. >>> plus, as the summer heats up, 7

the securities and exchange commission rejecting now a second attempt by the gemini founders to listtf on a regulated exchange. the sec denied the application for the winklevoss bitcoin trust, as it was called, due to, quote, bitcoin's vulnerability still to fraud. the winklevoss brothers have said they're not giving up, they will continue to work to bring in the etf to fruition. now bitcoin initially fell on the news. what we thought we'd do is give you a three month chart here. it did bounce back. it is now above 8200 at this hour for a single bitcoin at 8,235. it's a gain, but please keep in mind it was in december that bitcoin was at 19,000 the. so here we are at 8,237. bitcoin is definitely faring better than stocks are though. the dow is still down about 98 points, s&p losing 31 for three-quarters of a percent, and the nasdaq still getting slammed, down 1.5% or 123 points. nicole's on the floor of the new york stock exchange with today's business brief. electronic arts, not having much fun trading today the. what happened? >> i know, liz, you're so right. a bad day all around f

so these administrative law judges work for the securities and exchange commission and they're the first line ajude y adjudicated and similarities in this case against a brokered dealer and the commission has the right to review their decisions but they have the first line review and often there is actually no refuse by the commission. this is some what contested between the justices about whether nobody has asked or if they have some sort of authority. now the sec is an agency and there's no dispute that they should appoint these but they have not chosen to do so. instead they have their chief alj not confirmed by the senate or appointed by the president appoint the other aljs so that says that the president and point officers of the united states by and with advice and consent of the senate but as to inferior officers congress must vet the appointment in the president alone, in the courts of law or in the heads of departments. if they're just employees, if there's no different than the janitor that sweeps the floors, then they don't have to be appointed at all. they can simply be hired

these administrative law judges work for the securities and exchange commission, and are the first line adjudicators in disciplinary and similar cases against appropriate dealer. the commission has the right to review their commissions -- conditions, but they have the first line review. often there is no review by the commission. this is somewhat contested between the justices about whether it is because nobody asks, or because they actually have final decision-making authority. disputes a lot of the that come before the sec. agency.is an there is no dispute that the agency could appoint these aljs. the agency has not chosen to do so. they decided to have their chief alj, who is not confirmed by the senate, or appointed by the president, appoint the other aljs. that implicates the appointments clause, which says the president can appoint officers by and with consent of the senate, but as to inferior officers, congress may best the appointment of inferior officers given the president alone, in the courts of law, or at the heads of departments. officers,re inferior they must be appointed

in prices you know because if you do have an order book and displaying the prices then you need to be registered as a national securities exchange and also in order to sell those exemptions and allow those you know there's more to be known public companies and still be able to sell them as they have been then needs to be a one year lock and according to u.s. securities law so combine those forces and you actually go a very inappropriate legislative structure and regulatory structure in order to operate the crypto markets use used to. now the whole world is like this in on the us falls asleep because the f.c.c. is the most vocal regulate around the world they're putting fit for purpose regulations and they've been absolutely i know that some restrictions from being you know the leading financial market in the world where someone else has got the opportunity to leapfrog you know we saw with. m. pay is a program the banking system going straight to mobile money well other jurisdictions the leapfrogging securities i.p.o.'s in exchanges and going straight to where we want to be and that's what the future has been working on and we've

is the food and drug administration, the environmental pro of course administration, the securities and exchange commission i'm just giving you an example. the law says they write their own rules, they enforce their own rules, they interpret their own rules they have their own judges so if you are a person or entity against whom those rules have been written, enforced and interpreted and you want to sue the entity, it's like this. the entity, the administrative state has a leg up on you. the court must defer to it. judge kavanaugh and justice gorsuch say bologna. when you sue in a federal court you're equal. the government walks into the court with the same benefits as anybody else, even though the statutes say the courts should defer to the administrative state. that is the type of change that's going to bring about except for a part of the administrative state he loves, surveillance. and the intelligence community. we give them, that's rand paul. liz: okay the media now saying president trump picked kavanaugh because kavanaugh does not believe in indicting presidents. let's listen. >> this guy

on this side of the atlantic, the fbi and the federal trade commission and the securities and exchangemission are also investigating the data privacy scandal. joining us now to talk about this is "washington post" tech policy reporter, tony rahm. good to see you. my guess my first question is does it matter? this is not even vending machine change to facebook, it's smaller than that. it's the biggest fine -- if i'm facebook and i'm thinking that's the best you can do? does it matter? >> yeah, it certainly matters. and you're right, 500,000 pounds isn't a whole lot for a company like facebook that's worth many, many, many billions of dollars and produces lots of money on a regular basis but it sets the tone for investigations around the world. remember, the united kingdom isn't the only entity looking at facebook and it's entanglement with cambridge analytica, which was a political consultancy hired by president trump during the 2016 campaign and used by folks who were involved in the brexit vote in the united kingdom. that firm improperly accessed about 87 million users' personal infor

. >> do you think that includes giving more authority to the securities and exchange commission and theep. hulzenga: it may. it may. we are having that conversation right now, or certainly lending clarity. that is one of the issues, is not necessarily authority but clarity, who has the authority. how does that get dealt with? i think we need to work who operatively with our regulators, because as we were just discussing dodd-frank, congress does not have all the answers. i am the first one to admit that. you are only as good as the people you surround yourself with, and we have got to make sure we are using people like jay clayton at the sec and jay powell at the fed, or steve ,nuchin at treasury, and others and the experts they have below them to figure some of these things out. lisa: that was an exclusive interview with congressman bill huizenga. you can check out all of the functions on bloomberg tv go. so if you want to check out steve eisman talking about why he is shorting tesla, you can check it out. you can also listen in, because we will talking about that coming up. from new y

these law judges work for the securities and exchange commission. the adjudicators and disciplinary and similar cases against a broker, dealer. the commissioner has the right to review the decisions but they have the first line review and often there is no review by the commission. this is somewhat contested. whether it is because nobody asked or because alj has final decision making authority but they hear an awful lot of disputes that come before the fcc. the fcc is an agency and there is no dispute that the agency could appoint them but the agency has not chosen to do so. they decided to have their chief allie -- alj who is not appointed by the president.the other aljs. that implements the clause that says the president can employed -- appoint the officers but congress may vest the appointment -- appointment of inferior officers in the course of law or heads of departments. if these are inferior officers, they must be appointed -- appointed by the head of that the department. the commission itself could serve as the head of the department. if aljs

we will watch that thank you, coming up facebook under fire again the securities and exchange commissions sooner, details after the short break, back in a minute ♪ i want you, hicht oo -- hoo, gie me a tear, you don't want to miss this all i want ♪ [music playing] (vo) from the beginning, wells fargo has supported community organizations like united way, non-profits like the american red cross, and our nation's veterans. we knew helping our communities was important then. and we know it's even more important today. so we're stepping up to volunteer more and donate over a million dollars every day. so our communities can be even stronger. it's a new day at wells fargo. but it's a lot like our first day. a few problems actually. we've got aging roadways, aging power grids, ...aging everything. we also have the age-old problem of bias in the workplace. really... never heard of it. the question is... who's going to fix all of this? an actor? probably not. but you know who can solve it? business. because solving big problems is what business does best. so let's take on the wage gap, the oppor

the bill provides $1. 6 billion for the securities and exchange commission. and will help grow the economy by providing $737 million, or full funding, in capital to various small business administration loan programs. perhaps most importantly this bill includes provisions that will finally bring the consumer financial protection bureau under congressional oversight. mr. speaker, as you are aware, when the cfpb was created in the original dodd-frank act, -- consequently since its inception un-elected bureaucrats at the cfpb have been able to operate without congressional supervision. today's bill will remedy that and ensure the cfpb falls under congressional authority, oversight, and supervision once and for all. mr. speaker, i encourage all my colleagues to support this rule and the underlying bill. the package before us represents a fulfillment of our most important responsibility as members of congress and provides appropriate funding in two divisions, interior and vimplete, and financial services and general government. i applaud my colleagues on the approp