Facebook must also pay SEC $100 million over misuse of user data

The $5 billion FTC fine isn't the only fine Facebook must pay.

Elizabeth Warren wants to force companies to warn investors about their risks from climate change

Public companies are legally required to disclose their risks to investors, but it's a rare company that incorporates climate change into those mandatory disclosures; under a new presidential campaign platform proposal from Elizabeth Warren (disclosure: I am a donor to both Warren and Sanders's campaigns), the SEC would require public companies to incorporate two kinds of climate risk in their warnings: first, the risks of an out-of-control climate (fires, floods, etc); and second, the risks from the a transition to clean energy (collapsing fossil fuel prices). The idea is to accelerate divestiture from climate-destroying industries like oil and fracking, and to spur investors to favor companies with a plan to mitigate the effects of climate chaos on their operations. Read the rest

KPMG is in the middle of an unbelievably dirty cheating scandal that keeps on getting uglier

KPMG is one of the "Big Four" accounting firms: that means that whenever a plan for a business or a public project has a box that says, "Make sure no one is cheating," it means that you hire KPMG or one of its rivals to come in and check the books and make sure that everything is on the level. If you can't trust the accounting firm, the whole thing falls apart. Read the rest

Equifax finally publishes a tally of what got breached when it left 146.6 million credit files unsecured

Ever since the news of the Equifax breach broke last September, we've been waiting for the company to publish an authoritative tally of what, exactly, got breached. Read the rest

SEC fines Yahoo (now Altaba) $35 million over massive data breach

How the once mighty have fallen. Read the rest

SEC to scrutinize public companies getting overnight bitcoin makeovers to cash in on cryptocurrency hype

The U.S. Securities and Exchange Commission today pledged to aggressively scrutinize publicly-traded companies that suddenly change their name or their business model to try to profit from the nutty hype surrounding cryptocurrency. SEC Chairman Jay Clayton threw this wet towel on the blockchain bubble Monday. Read the rest