We have some limitations to our jurisdictions. Around issues of common carriage. We are at a moment in time where the jurisdiction is very much a source of conversation in this area as well. I would say the ftc rule is a generalized Consumer Protection enforcer, but we need some of our jurisdiction when it comes to being clarified. A top republican, the only republican on the commission. Wiry down to two . Why are we down to two . We are waiting for new commissioner nominees from the new york administration. We do have a commission where we can function. Ftc is arically the bipartisan commission. My colleague and acting chairman can function through consensus and as enforcers we do agree. Can you have a conversation in the hallway . We talk about the weather in the hallway. Sometimes our children and acting chairman have some wonderful new grandbabies. Developments. We are covered by the sunshine act, so we do have to notice meetings. It creates an act or layer of notice. Host if you g
Guest well, its a great question and be incredibly topical given the wanna cry Ransomware Attack that is really zipping around the world over the last few days. The ftc is a generalized Consumer Protection enforcer and has also taken on the role of protecting consumer Data Security. And in that context, weve actually brought about 60 cases in the last few years involving whether security practices of companies are adequate to protect the consumer data that theyre holding. So weve been very active in crafting an approach to the security of consumer data that includes our start with Security Initiative and a process that we like to Call Security by design which is building the security principles all along the way. And as you can imagine, a very important part of that is making sure that youre updating software, making sure that you are continuing to maintain and protect against vulnerabilities once theyre disclosed and remediating when situations arise. Now, unfortunately, this Ransomwa
This week on the communicators we want to produce you terrel mcsweeny, the only democrat on the trade commission what is the charge of the ftc . The federal trade commission is the nations top Consumer Protection Enforcement Agency. We have a general mandate to protect consumers from unfair deceptive acts and practices from anticompetitive practices. Mandate is realtivelily broad. We cover many sectors of the economy but as im sure well discuss we have limitations to our jurisdiction, including around issues of common carriage. So were at a moment in time where the ftcs jurisdiction fccs sure disk is a source of conversation in this area as well. So, i would say the ftcs role is a generalized Consumer Protection enforcer but we need to have some jurisdiction when it comes to telecommunications clarified. Host commissioner mcsweeney, we had on chairman o the Top Republican in fact the only republican on the commission at this time. A fivemember commission. Why are we down to two . Well,
Good monday morning. Welcome to squawk alley. Obviously watching the markets this morning some of the big tech stocks taking out their loss from friday as they are under pressure for a second day in a row. Analysts issued a rare downgrade for apple saying the stock has limited upside potential fang is under pressure we thought friday was a one day dynamic, some of these names are proving otherwise. A bit of a rebound, though, in tech. I watch a grouch tech stocks and i was looking at one points in the 10 00 hour there were about 39 of them that were down 3 or more im looking now and its six are only down that much. So quite a rebound i think apple is a prime example at the heart of this i take the point, bob pisani was saying earlier he doesnt understand why people say apple is overvalued. Theres this valley of doubt on apple that usually happens right around late august to late january people start saying oh, this iphone, this next one isnt going good enough. Theres never been an ipho
1. 4 hang seng was up, and the kospi up in europe, things are relatively flat. Dax is down. And the cac is weaker. Crude oil prices on a tear this morning it is up again with wti trading. Can i say hello to everybody. We havent been all together awhile, kind of nice comfortable pair of loafers im wearing sneakers today. Theyre more comfortable than loafers. I dont feel like you have to do much to look better i can come in. Sneakers and no socks this is like sweatpants, when seinfeld wears sweatpants, youve given up. Let get you to the morning headlines. Heres whats going on in Corporate News peltz fighting for a board seat at prak tore and gamble. Theyll launch a proxy battle. Hear about it within moments my expectation is hear about it coming across the sec with a filing in a moment the move would make p and g the largest to face a proxy contest. Last week they rejected the request to name mr. Pelts a board member he is one of the biggest shareholders, second biggest roughly holding 3