the s.e.c. regulatory accountability act, and i want to thank chairwoman wagner for leading this bill in the house. this bill is about cost-benefit analysis. that may sound like ph.d. economics but it's really about kitchen table economics. because, mr. chairman, it's truly about whether we are going to have a stronger economy, one that creates good-paying jobs so that parents can afford the raise their children today and these same children can have a brighter future tomorrow. it's about making sure we have an accountable government that expands personal opportunity, not government bureaucracy. mr. chairman, i think we all know that small businesses are truly america's job engine. they create nearly 2/3 of all new jobs in our economy. so our economy works better for all when small businesses can focus on creating jobs and serving their customers rather than navigating needless government red tape. unfortunately, for america's small businesses, bureaucratic red tape has no better friend than the

you might be surprised to hear that the s.e.c.'s inspector general has issued a report expressing several concerns about the quality of the s.e.c.'s economic analysis. it found none of the rulemaking it examined attempted to

the s.e.c. has additional s.e.c. specific rules that are in place and this amendment would do absolutely nothing to support or diminish those because it doesn't address any situation that they have. and with that, i yield back the balance of my time. the chair: the gentleman yields back the balance of his time. the question is on the amendment offered by the gentleman from california. those in favor say aye. those opposed, no. in the opinion of the chair, the oes have it. mr. desaulnier; i request a recorded vote. the chair: further proceedings on the amendment offered by the gentleman from california will e postponed. it is now in order to consider amendment number 5 printed in part a of house report 115-3. for what purpose does the gentleman from maryland seek recognition? >> i have an amendment at the desk. the chair: the clerk will designate the amendment. the clerk: amendment number 5 printed in part a of house report 115-3 offered by mr. raskin of maryland. the chair: pursuant to house resolution 40, the gentlem

tillerson was aware of the s.e.c. letters and was familiar with these dealings but didn't want to answer the questions honestly or indeed he had no knowledge of consequential financial disclosures made by his own company. if you consider that in concert with all the other things he claimed to have -- quote -- no knowledge of, including the widely reported extrajudicial killings in the philippines, whether or not saudi arabia was a human rights violator. imagine he had no knowledge whether saudi arabia was a human rights violator. people in a fifth grade word history -- world history class would know that. whether or not his company was engaged in lobbying or perhaps for energy sanctions. then maybe tillerson does not have the necessary management skills or knowledge to be the chief diplomat of the united states of america running a department that is obviously worldwide, far flung with thousands and thousands and thousands of employees. mr. president, simply put, we need answers. what did mr. tillerson know and when di

the other bill, h.r. 7, the s.e.c. regulatory accountability act, also is brought forward by the -- brought forward. this bill wasn't considered by the house last congress, installed in the financial services committee. so you actually have a bill that didn't even clear committee last congress. i was complaining about how the 56 members that are now this body didn't have a chance to put their imprint on the first bill. the second bill didn't even go -- make it through the financial services committee and didn't even pass the house floor last session. and yet here it is. without the appropriate committee consideration, depriving new members representing tens of millions of americans, democratic and republican, the ability to improve this bill. under the guise of regulation changes, h.r. 7 would actually require the s.e.c. -- 78 would actually require the s.e.c. to conduct enhanced benefit analysis to make sure benefits of their regulation justify the cost. in effect, the bill directs the f.c.c. to look at things like mar

the s.e.c. made this more difficult placing unnecessary burdens on companies who are just starting out. mr. speaker, the positive impact these start-ups often have on a community are staggering. in a city of austin, which i'm proud to represent, start-up companies provide more than just new technologies. they provide jobs. generate taxes, and give back to their local community. in 2015 alone, tech companies in austin were able to almost raise $1 billion in new capital. with our economy still on the mend from the financial collapse in 2007, it is time to give businesses both large and small the resources they need to compete and often competitive environment. h.r. 79 rightly amends the s.e.c. act of 1933 to form a key fine angel investor group and exempts them from having to comply with burdensome third party verification rules. the halos act provides essential protection for trade association that is often facilitate such meetings between investors and fund managers. continue to cultivate small b

fox finding the s.e.c.'s leading scorer, kentucky up ten, under two to play, kentucky up four, fox fakes right and does that. finished with 21 in the game. kentucky wins 88-81 improving to 6-0 in s.e.c. play. all these numbers swirling around. kev, how is your fitbit count going? >> getting killed in my challenge. down by about 17,000 steps. better run a marathon. >> thanks for joining us, everybody. have a wonderful wednesday. for kevin, i'm lisa. we'll see you soon. >> good luck with that, >>> in "the pulse" a sneak peek the lady gaga's halftime show. giving away at least one show we know she'll perform. >>> he's got game. the basketball playing baby. now going viral. you're watching your go-to movie. which has that one scene you forgot about. say hello to good thins. your go-to good. dobecause you've got ams lot of cheering to do! get fast sinus relief...with vicks sinex. and get your head back in the game. sinex. the congestion, pressure, pain to clear your head,

. >> the s.e.c. rict enough. >> this a sious coursof misconduct 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, and then from a phone booth, he would call an accomplice in the behamas who would buy stocks in the names of two dummy corporations which lef eastbound had set up 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 as in of new suspects. >> we start the investigation, and once his lawyer advised him that his in his interest to cooperate, he would give you the information

in fact the s.e.c. came up with an estimate that the total compliance cost initially, this is the initial cost, would be up to $700 million. then afterwards the ongoing compliance cost would be as much as $581 million annually. again, those are our companies and our competition would not have to do that. now, the courts have already struck this rule down when it was officials developed in august 2012. the d.c. federal district court struck down the rule in 2013 because of two substantial errors, specifically the commission had misread section 1504 to mandate public disclosure of the reports and had arbitrarily declined to provide an exemption for countries that prohibit disclosure. the new rule finalized in june of 2016 doesn't look any different. it's the same thing, even though the s.e.c. was told by the courts that the rule did not affect congressional intent, they continued to put out a new rule that had the exact same problems as the one the court had vacated. it's the same rule as if the obama admi

. >> in opposing hr-78 to ensure that the actions of trump's s.e.c. are in the interest of americans' economic stability and not in russia's or wall street's interest. i am amazed that the republicans can be so blatant, so non-caring to come with us at this time with a bill that would basically take our cop on the block, the s.e.c., and literally obliterate it. >> putting that on the record because i can now tell you that that is what actually happened in real life on the floor of the house today. stock? maxine waters, california democrat giving this speech saying if you get rid of this oversight the trump administration can come in here and instead of acting in america's interest they can act in wall street's interest. they can act in russia's interest. i'm amazed that the republicans would do this. we now know that is what she was saying on the floor of the house. that's what you would have seen if you were there live. but you weren't there live, were you? >> no, if you were watching it at all, you were watching it on c-span and on c-span this is how

carl icahn has been leading the interviews of the s.e.c. chair. he has been involved in that choice. >> well. >> what do you think he's going to favor? >> look, but the guy's not some hack. >> no, i'm not say thag. >> he's not some left field guy. >> i think that's interesting, too, don't you? that carl icahn is -- >> well, a lot of things -- do you remember during the campaign we heard that carl icahn was maybe considered for some of these positions? >> well, sure. >> he's part of a kitchen cabinet, we're going to start hearing that term. does mar-a-lago have a kitchen? maybe it's the biggest kitchen in the world. but i think we're developing a kitchen cabinet, not unlike reagan, of senior people. remember reagan's guys were fabulous car dealers and bankers. why doen't we make that -- isn' that what's happening here? we have to come up with a better term than kitchen. >> in this case icahn is doing business as usual, so he's an informal advisor. >> but that's what we have now. these are people that can't be challenged. i think the democrats are go

to sheeb shiba shares falling o reports that the s.e.c. obing the company for allegedly inflating profits between 2012 and 2014. a japanese newspaper says two ceos in charge during the period were involved in the alleged scheme. >>> tesla delivered more than 70,000 cars last year, but that was short of the goal of 80,000. there were production issues as it retooled its autopilot feature which delayed some shipments. >>> shares of takata surging 17% in asian trade today. the stock is up more than 60% in the past week on the possibility that the company is nearing a settlement with the justice department over its faulty air bags. very nice run. >>> when we come back, the top stories and a complete round up of global markets. and we will talk fed, the global economy, and much more. stay tuned, you're watching "worldwide exchange," one year old today on cnbc. >>> good morning. a global market rally. the dow is once again within striking distance of 20,000. harvard professor ken rogoff is our special guest. >>> behind the wheel. the nation's aut

had to endure a hurricane, a host of injuries, an incredible performance in baton rouge and win the s.e.c. east for the second year and then today a january bowl game, how would you define this team and group of seniors going out for you this year? >> this past two years, this group of guys and young guys that played to be part of two championship teams, you know, win a bowl game against one heck of a football team. i can't tell you how proud i am looking forward to next year already. >> jerry: i can hear in your voice how much it means to yo. e coach, congratulations, go hug your players and celebrate. >> thank you very much. >> mike: you could hear it in his voice too. don't forget. the rose bowl presented by northwestern mutual at 5:00 eastern on espn. for our entire crew who works so hard all year long, thank you so much guys and girls. for ed cunningham and dr. jerry punch this is mike patrick saying so long from tampa, florida. anything with a screen is a tv. stream 130 live channels. plus 40,000 on demand tv shows and movies, all on the go. you can even download from

the s.e.c. regulates the financial industry. mr. trump has made clear he wants the ease regulations on american businesses. and do you remember this? >> you know, i've always been a big omarosa fan, but omarosa, you're fired. >> elliott: that was one of three times that mr. trump fired omarosa manigault on "the apprentice." well, today he hired her to be director of communications in the office of public liaison. and there is pushback against mr. trump's choice for attorney general. six arrests were made last night when protestors from the naacp staged a sessions' senate office in alabama. they've blasted his record on civil rights and voting rights enforcement. more now from david begnaud. >> the protesters said they were taking a stand by sitting down. >> they refused to leave senator jeff sessions mobile, alabama, office. this is what they got. six protesters were arrested last night. one of them was bernard simelton, president of the alabama naacp state conference. you were handcuffed, taken to jail, mugshot. >> yep. >> reporter

had to endure a hurricane, a host of injuries, an incredible performance in baton rouge and win the s.e.c. east for the second year and then today a january bowl game, how would you define this team and group of seniors going out for you this year? >> this past two years, this group of guys and young guys that played to be part of two championship teams, you know, win a bowl game against one heck of a football team. i can't tell you how proud i am of our guys and you know, we're looking forward to next year already. >> jerry: i can hear in your voice how much it means to yo. e coach, congratulations, go hug your players and celebrate. >> thank you very much. >> mike: you could hear it in his voice too. don't forget. the rose bowl presented by northwestern mutual at 5:00 eastern on espn. for our entire crew who works so hard all year long, thank you so much guys and girls. for ed cunningham and dr. jerry punch this is mike patrick saying so long from tampa, florida. >> ♪ >> "action news." delaware valley's leading news program. >> ♪ >> we feel for everybody here. i would love to come back

. >>> the s.e.c. is reportedly investigating two massive data breaches at yahoo! the focus of the investigation is whether yahoo! should have reported the hacks earlier. that's according to "the wall street journal." one data breach in 2013 affected up to a billion users, and wasn't reported until last year. another in 2014 affected half a billion users. also wasn't reported until 2016. >>> sierra nevada brewing company is recalling select beers in 36 states. the recall applies to eight different types of craft beers including sierra nevada pale ale and torpedo extra ipa. a packaging clog caused a piece of glass to break off into the bottles. the >>> the psychological thriller "split" was the big box office hit this weekend starring james mcavoy as a man with split personalities. split earned over $40 million in ticket sales this inauguration weekend. the vin diesel action sequel triple x came in second and last week's top film hidden figures was third. anne-marie? >> hena daniels at the new york stock exchange. thanks a lot. >>> ahead on cbs this morning, tax fili

>> the immediate place to get investigation is the office of congressional ethics because they are empowered to do this. we have a new s.e.c. commissioner and so that will take quite a bit of time and if we want this information before congressman price comes to a hearing, that's the best place to go. but personally speaking at myself i have no qualms about the s.e.c. looking into it as well. >> have any of you reached out to o.c.e. and o.c.e. follows a specific timeline for when they review things and can release reports, so it my be some time before we know anything on this. are you going to wait? >> there is an obligation, i think, to the american people, that the answers to the questions that senators murray and widen have asked, and all the questions that arise from the trades and legislation that passed concurrently to be investigated. if it takes a while, congressman price's nomination should wait a while. >> we'll go to other subjects if you wish as well. she's very eager. >> how should lawmakers invest in these questions? >> in my view they have to be very careful and even avoid any appearance of conflict, which m

big 12 versus the s.e.c. check out this play from taevon meyers. goes behind the back and gets the kind bounce on the rim. that's old school. mountaineers lead by 5. carter led west virginia with 19 points as the mountaineers win 81-77 at home. >>> were you ready for some round ball? michael buffer doing the introductions. kansas and kentucky. kansas had a couple of hiccups. jayhawks have won 19 of their last 20. they win 79-73. they paid michael buffer 15 grand to do the intros. plus travel expenses. >> on a private jet probably? [ laughter ] >> nice gig. >> that would be cool, right? >> snow up state when we fios is not cable. we're wired differently. welcome to 8 and a half maple street. it's half a house. and even though it only has half a kitchen, half the closet space and a half bath, it's a full house to the wilsons. because they have fios, their lf house has full internet, with uploads as fast as downloads. don't pay for uploads that aren't up to speed. get 150 meg

but the s.e.c. actually reserves the right to ask for a waiver. if you're ever involved in a case in which the s.e.c. is involved. they have to go through their own supervisory review. they are clear, they do reserve the right to request a waiver. of privilege from a company under investigation. >> all right. so how do we go about disclosing these facts and what are some of the implications? bill? >> there's a fair amount of case law out there. one of the traditional ways, traditional way number one, i conduct the investigation, i have this -- associates are taking careful notes. we prepare an interview memorandum. i go in to talk to the government, say, here are all the memoranda of the interviews we've conducted. that is clearly a waiver of privilege. some lawyers do that. that's the way this edecided to practice, that's what they want to do. you need the permission of your client, of course, to waive privilege and tell them that's what's going to happen. the second way that i've seen people do it, quite frequently, is what everybody calls the o

but once again, the s.e.c. charged ten firms of violating the pay to play rules, one is pershing square. >> sue, thank you. sue herrera. >>> some unusual activity. doc, what do you see? >> weatherford, in november it was under 4. in december, under 5. now they're buying at the 6 strike out there in march. probably be in call spreads about a month. so that's pretty bullish activity. also have a bearish one for you. >> let's go. let's do it. >> all right. splunk, splk. they're betting that the stock falls perhaps all the way back down to 50 at this one. >> he eats homecooking. >> that's what he calls it. >> splunk is my middle name. markets are closed in about three hours. go around the horn quickly do some final trades. >> currency better, commodity better. >> disney. >> vol. buy futures for those who can. >> buy more weatherford. that's it. >> well prepared here. >> and i like the retailers. i think that affordability is not going to be around. big benefit. >> we'll see you soon. thanks for watching. "power" st

having said that, frankly, i was truly surprised at the destructive power the s.e.c. has. they have done substantial damage to my business, and i think in the end for no reason. two years ago, lawyers have looked very, very carefully in great detail at our trading and say they know inside trading is no inside trading here. i know the facts of this case like i know the back of my hand and there is nothing wrong that has been done. >> in the meantime, it's going to cost probably $100 million to deal with this. and when it's all over, you know, i'm not going to get anything other than satisfaction. because the u.k. is losing party pays, not in the united states. i pay my own expenses. number two, the government has sovereign immunity, so i can't sue the government for wrongful litigation. and the taxpayers pay the bill of the u.s. government the cost. so it's a difficult situation. again, i want to emphasize, i have great confidence in the judicial system. this will be heard by a judge, possibly a jury, and i'm completely confident that in the end we're going to win. but it's

the s.e.c. regulates the financial industry. mr. trump has made clear he wants to ease regulations on american businesses. and do you remember this? >> you know, i've always been a big omarosa fan, but omarosa, you're fired. >> that was one of three times in fact, that mr. trump fired omarosa manigault on "the apprentice." well, today he hired her to be director of communications in the office of public liaison. and there is pushback against mr. trump's choice for attorney general. six arrests were made last night when protestors from the naacp staged a sit-in at jeff sessions' senate office in alabama. they've blasted his record on civil rights and voting rights enforcement. more now from david begnaud. >> reporter: the protesters said they were taking a stand by sitting down. >> we're either arrested or our demands are met. >> reporter: refusing to leave senator jeff sessions' mobile, alabama, office. this is what they got. six protesters were arrested last night. one of them was bernard simelton, president of the alabama naacp st

likes to throw and for the tide, what about true freshman quarterback jalen hurts. 18 years old, the s.e.cive player shown poise all season long but tonight playing in the fm clems. they met a year ago and they liked each other so much they trophy presented by dr. pepper. >> will you make your selection? you usually do that? are you going to make a pick? >> you're good at making me pick always in front of the mascots. big al, i love you. i picked you last year. this year i'm going though with the tigers. >> whoa! whoa! >> their defense is going to be a difference. first national championship for them since 1981. please do not sit on me. i'm sorry. >> way to go out on a limb, jesse. looking good. see for yourself the battle for the national title at:00 p.m. on espn. >>> comi jimmy fallon's mariah carey moment at the golden globes. >> welcome to already the teleprompter is down so this is ad essure or heliver, unger, help control cravings. go to contrave.com. yeahashtag "stuffy nose."old. hashtag "no sleep." i got it. hashtag "mouthbreather." yep. we've got a mouthbreather. well, just put