the us securities and exchange commission formed a complaint against rio tinto was no former ceo, on ys that they failed to follow accounting standards and inflated the value of coal assets that were bought for $3.7 billion and sold a few years later for $15 $3.7 billion and sold a few years laterfor $15 million us. corbert still says it is quite ready with the justice department still says it is quite ready with thejustice department in their investigation into the leaked data scandal. the japanese company has announced that 500 customers were affected, more than twice as many as we re affected, more than twice as many as were initially thought. —— mr yu. in delhi, it is one of the most polluted cities in the world, and every diwali, it gets worse. smog covers the city. this year, the supreme court has banned the sale of fireworks in central delhi, leading fireworks in central delhi, leading fireworks manufacturers and vendor is scrambling. we got this report from tamil naidu to find out more. 100 years ago, there was nothing but farmland here. today, it is home to a thriving industr

it is a settlement after the securities and exchange commission accused the company of making false and misleading statements and omissions to investors including selling health insurance without a license. the company's former ceo paid nearly half of that fine. the united autoworkers union has filed an official complaint against tesla. it claims unfair labor practices on behalf of fired workers. reuters reports, tesla fired about 400 employees this month from its plant in fremont, including associates, team leaders and supervisors. in a state, tesla said performance reviews can result in promotions and occasionally departures. it denies trying to unionize the employees. a hearing is set for next month. >>> the stolen gun was used. now more on his revelations in court today. >> we learned from the testimony. number one, more than just a gun was stolen from that park ranger's suv. number two, the gun was fully loaded. it had seven bullets in the clip and one in the chamber ready to go. now, toward the end of his testimony, the defense asked him, quote, do you bear any responsibility for

investors back on their heels now initial coin offerings were sternly turned away by the securities and exchange commission here in the united states but depends financial watchdog greenlighted eleven companies to trade the crypto currency china is clamping down and punishing undercover traders meanwhile south korea loves it for sure the cryptocurrency has seen a movie two thousand and seventy eight russia was the most recent to chime in its central bank chief calls big coin untraceable therefore dangerous earlier this week russia's minister of economic development wrapped up business here in washington with this to say about that going. if you go in there is not an easy question because on one side it's a new technology which would be studied and we should be leading in the study of that technology but on the other side it's it might bring somebody to those some folks in business we train this thing it's so.

securities and exchange commission. i will attempt to be concise in my remarks as i know you and the american people have many important questions regarding among other things our cyber risk profile and the intrusion we disclosed last week. i will start with a thank you. my fellow commissioners and the people of the agency have been incredibly welcoming to me. i have benefited from each interaction with these dedicated individuals. during my four months at the commission, i've devoted a substantial portion of my efforts to agency operations. including assessing whether we have the people, technology, and office space necessary to succeed in our mission. as discussed in my written testimony i believe there are four areas where additional focus and resources are most needed. cyber security, retail investor protection, market integrity, and capital formation. specifically with regard to cyber security, i've been focussed on this issue internally and externally since my first weeks at the commission. as recent events demonst

securities and exchange commission. i will attempt to be concise in my remarks as i know you have many important questions regarding among other things the cyber profile and what we discussed last week. i will start with a thank you. the people of the agency have been incredibly welcoming to me. i have benefitted with each interaction from these dedicated individuals. during my four months i've devoted a substantial portion of the efforts to agency operations, as well as whether we have office space necessary to succeed in our mission. i believe there are four areas where additional focus and resources are most needed. cyber security, retail investor protection, market integrity, including market structure, risk and resiliency and capitol formation. specifically with regard to cyber security, i've been focussed on this internally and externaly since my first weeks in the commission. this is an area we need to devote significant resource and attention to respond to market developments and meet the expectations of the amer

prevention of security breaches and money laundering it's something proponents of initial court offerings in the united states are hard pressed to make the case for to the securities and exchange commission that coin responded by moving close to forty five hundred dollar levels according to coin market cap then settled right at forty four hundred other cryptocurrency such as if ripple and light coins are all seeing an uptick with the cryptocurrency market capitalization hitting now at one hundred fifty billion dollars. it was a woeful time for airlines around the world over the weekend and into monday in the u.k. british authorities are scrambling to bring home one hundred ten thousand travelers after monarch airlines collapsed canceling all flights transport secretary chris grayling immediately ordered the country's biggest ever peace time repatriation to fly home the stranded passengers at no additional cost mark was britain's fifth largest carrier with twenty one hundred employees monarch ceased operations after failing to reach a deal with regulators to extend the company's license to sell package holidays to overseas destinations the airline says trouble stemmed from recent terror a

. >> write it here. ,s the chairman had indicated securities and exchange commission falls under that purview.you obviously know that you have certain duties and responsibilities as a ceo not just in the running of a company but in the paperwork filing that has to go on that and be filed with organizations like the fcc. was data security ever an area you listed as a sufficiency in regards to any of these requirements? mr. smith: congressman, i don't recall this ever being described as a deficiency. communicated by other means. >> you have internal controls. do right, presumably you your analysis on it. so data security was never part of that? issue?th: as a control as >> a control issue or an area of concern. mr. smith: it is always viewed as an area of risk for the company. i don't ever recall it being considered an area of control. >> under sec rules, when you have a material change in the condition of your company, you have to filing form commonly known as 8k. form is there regarding financial condition or prospects. when significant event occurred, you file this. when did you file

investors back on their heels now initial point offerings were sternly turned away by the securities and exchange commission here in the united states but your pants financial watchdog greenlighted eleven companies to trade the crypto currency china is clamping down and punishing undercover traders meanwhile south korea loves it for sure the cryptocurrency has seen a movie two thousand and seventeen russia was the most recent to chime in its central bank chief calls big coin untraceable therefore dangerous earlier this week russia's minister of economic development wrapped up business here in washington with this to say about that point. that it's going there's not an easy question because on one side it's a new technology and we should be studied and we should be leading in the study of that technology but on the other side it's it might bring somebody to those conflicts and missteps we train this thing it's so that's how we see the station this go we've been moving forwards. in the broader picture a block chain enabled big coin leads to a discussion of tech it's the short form of financial technology whic

securities and exchange commission is preparing to give wall street a reprieve. will tell firms they won't have to overall operations to comply with new european rules. we call it mifid ii. that is according to people familiar with the matter. nejra cehic joins us. this is quite significant. we know the backstory. there were letters between regulators here, in brussels, and the sec going backwards and forwards. this puts u.s. banks at an advantage. nejra: the sec has been lobbied a lot about this, not just from industry in the u.s., but there have been conversations between european and u.s. regulators. anytime we mention research unbundling, anyone you talked to on wall street, they've got an opinion on it. mifid ii says research has to be unbundled from other services for transparency and competition reasons. the conflict with the u.s. is that if you charge research separately, you have to register as an investment advisor. what the sec is saying, according to bloomberg reporting, is that if you send these letters to firms basically exempting them from being su

what the trump administration thedone is they have said securities and exchange commission and the bigall street regulators in washington, we want you to go ahead and ease the rules in the following ways. they put some high-level suggestions up. it's a 220 page report so there are some specifics. more than a directive or saying go do these things, it's a blueprint for what the trump administration hopes the independent regulators will do to he's some of the rules they put in place following the financial crisis. marty: what kind of a blowback do you think these suggestions will get from the loyal opposition, the democrats, who think they are being too easy on wall street? >> it is assured that investor advocates and some democrats are going to push back on a lot of these recommendations. on the other side, he already had the chamber of commerce praising them. this is basically going to be the ongoing partisan divide over the rules that were put in place after the financial crisis. there is a specific ruled that the sec has related to conflict minerals, some of the disclosure rules and

the chairman of the securities and exchange commission block a chinese takeover of the new york stock all likelihood that deal is dead. ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i'm gone lou: in own online poll we asked should a ceo be held responsible for restitution due to negligence and 95% said yes. joining me now pat buchanan, author of the book, nixon's white house wars. pat, great to see you. my gosh. you have led a busy, busy life. what do you think as you watch general mattis jump the president on the conclusion in a senate hearing. what do you think when you hear rex tillerson being told he's wasting his time thinking of talking to kim jong-un? >> i think that mr. tillerson made a mistake in revealing the fact that we have got back channels to the north koreans. with regard to general mattis. i think what you spa was a general in action up on the hill when he was asked a point-blank question of senator king, is the iran deal in the national interests of the united states in your judgment and he said yes. i don't fault

sources say the securities and exchange commission is preparing to give wall street a big reprieve concerning new mifid set to take effect, the plan and what it means for brokered read -- broker research costs. automation coming to wall street in a big way, bloomberg is taking a look at the critical issue in a series of reports. they focus on the coming revolutions and what it means for workers across the industry. here.hyman is halfway into the trading day already. 23,000.ow today, about yesterday it closed at a record, just shy of 23 k, we hit 1000 point milestone's five times since the u.s. election. the s&p 500 trading at a record today, although backing off its highs of the session. nasdaq slightly lower. trading ranges remain relatively small. unusual today, a big move in ibm and, of course. board --arnings, a while -- upwards. we have not seen a positive stock reaction, even when the numbers beat estimates and again we see today is the biggest one-day gain post earnings for ibm since a report of the fourth quarter of 2008 and january of 2009. this after the tech giant predicted a gain

securities and exchange commission is preparing to give all street a reprieve.ll tell financial firms they will not have to overhaul operations to comply with europe's regulations. >> among the complicated issues with mythic, the most mifid,ated -- method, -- the most complicated is the sec rules. saying,seems close to it is fine if you violate u.s. rules to comply with mifid, we are not going to punish you for that. it is hard to see a world where wall street will make more money selling research than it has through trading. wall street has benefited for a long time. there will be a lot more issues down the line as clients go as far as revolting and say, we want what the europeans have. we don't want a conflicted arrangement. the firm who does something the best to get that service separately from them. president donald trump wrapping up a joint news conference as the greek prime -- in the rose garden. it is a concept that doesn't work. yet, it appears we have a short-term deal. congress, they say they have reached a deal xlv, which attracts health-care shares,

securities and exchange commission. rint bigger than the island of manhattan and thenearly as d as the grand canyon. alarm bells went off and local tribes and fisheries asked the epa to study the impacts a mine that big could have. after a three year study the it has the potential to destroy 94 miles and streams and additional 4900 acres above bristol bay. all these losses will be irreplaceable. the fishing industry here employs 14,000 people. no one knows how many jobs would be loss if the fish vanished. >> it is a bad place geologically to put this kind of thing protecting it works and patching it afterwards does not work. >> one of the scientists whose work was used in the study was thomas quinn. a professor at the university of washington, he has studied the area for 30 years. >> this is the jewel in the crown of america's fishery resources and salmon. if you don't think this is worth saving, what is? if you don't think there is danger in this, you have not looked at it carefully. >> according to several epa insiders

sources say the securities and exchange commission is preparing to give wall street a big reprieve concerning effect, the plan and what it means for brokered read -- broker research costs. automation coming to wall street in a big way, bloomberg is taking a look at the critical issue in a series of reports. they focus on the coming revolutions and what it means for workers across the industry. here.hyman is halfway into the trading day alread

julie: it was from the securities and exchange commission.s,iscommunication it missed a request from the fcc -- from the sec for financial documents. it seems routine for them to request documents from companies , but it is not routine to miss it for whatever reason. axon says that its initial comment -- and follow-up requests were caught in a spam filter. to be fair, it is unusual that the request would just be sent to the cfo, specifically. also that it would be caught in a spam filter. there is an analyst that says the incident is embarrassing, but nothing to be concerned about. the stock is dropping today as a result of this. what is axon enterprise? julie: tasers. they renamed themselves. they just sell tasers, but it is not called peyser anymore because they changed the name of the company. under the axon label. they are the shocking device. shery: now i know where to go shop for them. axon is body cameras. that is the other segment of the company's business. aboutf its revenue -- three quarters comes from tasers versus a quarter from t

securities and exchange commission. e mine would create a footprint bigger than the island of manhattan and nearly as deep as the grand canyon according to the e pa. alarm bells went off, local tribes and fisheries asked the e pa to study the impacts a mine that big could have. after a three-year study the e pa posted a report showing a pollution from the mine could result if a fish loss habitat. and it could destroy hundreds of mines and streams and in addition 4900 acres above e pa. all those looses would ir ver l irreversible. no one knows how many jobs will be lost if the fish vanished. >> it's a bad place to put this kind of thing. protecting it works, patching it together afterwards doesn't work. >> reporter: one of the scientist who was used in that study is thomas quinn. he has studied the area for 30 years. >> this is the jewel in the crown of america's fishery resources in salmon. if you don't think this is worth saving, what is? and if you don't think there's danger in this, you haven't looked at it carefully.

we see the dnc get hacked and just recently the securities and exchange commission. should not shock anyone equifax not only was have to completely unprepared apparently. >> you think the new safeguards they will put into place to make us feel safe? >> i think it should make us feel a little safer but ultimately time we had to put into your own hands and take responsibility to do it ourselves.you cannot depend on just equifax or any of these other companies to do their job. we have to keep our own eyes open and be vigilant. >> then, your information was grace, how do you find that it happened? can or access in some way?if it was, what can you do about it? >> first you should not equifax website and here is the important points. no one understands, do this with a secure computer. because if your computer has been hacked and you want to equifax link, you can be opening the back door to your information. once you on the website will put in the last six digits of your social security number and i will tell you whether you have or have not been hacked but take that with a

it's correct that the s.e.c., the securities and exchange commission views bitcoin more as equity thanrency, in the sense it has to have value of its own. there is no cash flow that comes from it. it's based on the past production, not based on future production, resources. one has to be careful when betting on that. the word bet is probably the right one. not invest >> tony, thank you very much for joining us >> thank you >> sara, the other central bank, which will continue to be in focus is the ecb, who have even less inflation and only a single mandate of inflation, but they did get better industrial production very good industrial production, 3.8% year-on-year. expected to be 2.6%. their fundamental data good, but still no inflation >> very strong that is a talking point here in the global expansion story the upgrade in the forecast for europe's economy we'll talk about it all. we have world bank president comi ungp on "squawk on the street," larry summers also coming up. "squawk box" is next >>> good morning earnings alert jpmorgan set to report this hour we'll bring you numbers a

the company has already made a filing with the securities and exchange commission saying that it is unknown whether the utility is responsible for the fires. the documents that the companies had $800 million in liability insurance and if that amount is insufficient, the pg&e financial condition could be affected. >> so could the public relations. especially in the wake of the deadly san bruno fires. you were in the fire zone or what were you hearing? >> we always ask, what you think started this? people say they think pg&e started it with faulty lines or exacerbated it unnecessarily with shoddy maintenance of the powerline facilities. >> it is a pr problem. also as the fire battalion chief noted, it is also the air. it is the wind. it is the dry -- it is a lot of things. where we build contributes. but it will be pg&e who gets the legal front. >> absolutely. the wind and the dry grass doesn't have deep pockets or $800 million in liability insurance to rebuild the community. >> we will be right back. story at 8 o'clock.- hi i'm joan lunden. join me and the centers for disease control and pre

securities and exchange commission is preparing to give wall street a reprieve. will tell financial firms they will not have to overhaul operations to comply with europe's mifid 2 regulations. >> among the complicated issues with mifid, the most complicated for u.s. firms is complying with mifid technically they are violating u.s. sec rules. they have been lobbying the sec for months over this and the sec seems close to saying, look, it is fine if you violate u.s. rules to comply with mifid, we are not going to punish you for that. it is hard to see a world where wall street is going to make more money selling research than it has through trading. wall street has benefited for a long time from bundling these services. i think there will be a lot more issues down the line as clients perhaps go as far as revolting and saying we want what the europeans have. we don't want a conflicted arrangement where we are paying you one fee for everything. we want to pay the firm who does something the best to get that service separately from them. >> president donald trump wrap

. >> just today, pg&e filed with the securities and exchange commission a statement saying it is "unknown at this time whether or not the utility is liable." they point out in that filing that they have $800 million worth of liability insurance, but if that is not sufficient to cover issues related to the fire, that pg&e's business may be "materially effected." as you pointed out, allan, the stocks for pg&e dropped 10% today. in santa rosa, melissa keane, kpix 5. >> of course, it's the big wild card is the wind as we mentioned earlier. cal fire is particularly concerned about the pocket fire and there's new information on that area because just a couple of hours ago a new mandatory evacuation advisory issued for people in the area of highway 128 between chalk hill road and geysers road. kpix 5 katie nielson continues our coverage in geyserville tonight. katie? >> we're actually here on the western edge of that pocket fire that we have been talking about. i'm going to step out of the way and i want you to take a look behind me. you can still see active flames coming down from the ridgeline

initial public offerings but it's initial coin offerings which aren't regulated so and the security six and exchange commission i guess is going to regulate that and i think china's coming out with their own crypto that's. a lot of countries i think are coming out with their own central bank digital currency which would be good in the sense that it's easier to do fiscal stimulus good for them and it's good it's actually a good way to do the the dollar and we've only got five percent money anyway and you're not going to i mean you have a rebellion on your hands if you try to get rid of the five percent i think but the ninety five percent is already digital i mean it's already somewhere in bank accounts it would be if if if the fed opened up both its lending window and its deposit window for the general public so that we could all bank there they've got a deep pocket we don't get rid of the insurance we can get rid of that part of the repo market is just there to service. people that have more than to interfere and you know that the fines and stuff that have more than two hundred fifty thousand dollars and they'

that's why we need a strong securities and exchange commission to do a thorough investigation into whether there's been insider trading the story we heard here defies credibility. >> senator warren, why is it the government's role to step up and regulate equifax is there any concern about this being a slippery slope >> i'm sorry, who do you think is going to equifax? what equifax just promised if we do data breaches we'll make more money off them we'll put a ceo or former ceo out front to try to tout more money they can make money off. this is an industry that is fundamentally broken here is a way to understand it right now. as a consumer you can't decide who gets access to your data if you think equifax did a really lousy job, you can't say, hey, i'm taking my business somewhere else, because you never authorized the collection of your data to begin with even if equifax says, oh, we'll put some kind of freeze on your data, the other two credit reporting agencies don't have to do that. that means thieves can go out and open credit cards in your name or take out other loans in your name, bu

the securities and exchange commission is preparing to give wall street a reprieve by telling firms theyill not have to overhaul their operations to comply with you european rules governing investment research according to three people familiar with the matter. expected to provide formal assurances it will not object if brokerages rate out the cost of market analysis rather than bundling it together with other services. saudi arabia's oil minister says the kingdom is still aiming to complete both international and domestic portions of the aramco ipo next year. declined tolih answer questions on whether chinese investors are interested in buying stakes in the state owned oil giant. to callo's calamitous deal in mozambique keeps coming back to haunt the minor, grappling with another african misadventure. fileduthorities have fraud charges against the company. the former ceo and ex-cfo violated saying they inflated the value of the call assets. it intends to vigorously defend itself against these allegations. has left the board of three companies after making racist comments in his monthly

in terms of reporting more information about board of directors meetings but on like securities and exchange commission meetings, finra board meetings are closed so it's you and perhaps the chairman and a couple of key staffers describing what happened, you get no sense of who was saying what, what the real arguments were and for or against the particular proposition. there aren't minutes although now you report some of the actions taken. are you thinking about any additional changes to the transparency at the board level or are you comfortable where you are at this point or do you want to wait and see or -- >> well, as i mentioned, you've identified a couple of things we have been trying to work on which is give more information before the meeting about what we're going to be talking about and more depth into our description of what was discussed at the board meeting and that's a journey. i think more work we are and will be doing on that front. in response to this engagement notice where we really opened ourselves up to the world to el us how you think we should be thinking about our engagement, ther

banks from the deposit activities with the glass-steagall act, the creation of the securities and exchange commission and the set of securities laws so that the financial sector actually operated with some transparency and reliability. the end of prohibition, which not only make people happier -- [laughter] but was aimed directly at doing away with a criminal conspiracy to evade a law that did not have broad support. we might see that going on again right now actually. they agricultural adjustment act to keep farmers in business. the civilian conservation corps, which was so important in providing jobs for younger men in those days to save money home to their families. my mother's brother was one of those core members. surviving conservation corps members who had intended to be here, but due to transportation difficulties, wasn't. look how that combined jobs and conservation. brother going to conservation corps when she had to drop out of college. not only did he receive a job in the self-esteem that that brought, the money to send to his family, he had no health care for the first time in his life.

and overseas are the same this report mainly deals with the purview of the securities and exchange commission trading commission treasury officials said they studied whether to merge those two regulators and decided against it, but did say that some of the overlap between the two agencies did need to be eliminated most of this report dealt with either revisiting old rules or potentially rewriting new rules, which would make this process be very long in the making. treasury officials said that there was consensus among all five regulators that the volcker rule needed to be tailored, but any official changes to that would be a long way off. the next report out of treasury is expected to concern the insurance and asset management industry and treasury officials say it could be out as soon as next week. but certainly the banking and financial services industry is going to be diving into this one today. back to you. >> absolutely. and banks are the biggest winners now on the s&p 500 off the higher yields. thank you. >>> when we come back, what may be the world's largest ipo ever. saudi aramco anno

today's report largely with those markets regulated by the securities and exchanged commission and the commodities and futures trade commission and it delves specifically into ways regulators could make it easier for businesses to go public and find investors. the report calling for loosening public company disclosure requirements for conflict minerals and pay ratios to name just a couple. it also calls for raising the threshold for what they call smaller reporting companies which have rules to $250 million in share float to $75 million. it suggests widening the universe of who's considered an accredited investor and letting more people participate in private fund raisings, for crowd funding in particular, treasury suggests an increased fund-raising limit of $5 million. when asked whether this would mean private companies would have to share more information with those investors, a senior treasure tri official said no. critics called it a gift to wall street today exchanges, though, echoed the natural enthusiasm of the trump administration nasdaq ceo tom whitman says it looks forward t

need most other recommendations require new rules be written by the securities and exchange commissionuture's trading commissions. neither of which had a full panel of commissioners both regulators responded mostly positively to the report they look forward to working with treasury to implemented and noted the rules der relative relative -relative -- relative --derivatives most notably, guys, a merger of the two agencies which has been talked about for nearly a decade treasury says it is now off the table. michelle >> maybe they could not agree on a price. >> thank you is that a joke that no one is laughing >> no, it is good. >> so could the treasury recommendations spur growth and encourage more investing lets bring in our cnbc ron saunders and dennis, dennis, le me start with you. does it help bring in investors and we can get more companies going public >> absolutely. this is the wisest thing to do, i have not been a fan of many o f the thing that is this administration have done i am worried of what they are signing this afternoon i think this is a good step forward. i think it is