The very-busy SEC has opened an inquiry into Fiat Chrysler and possible inflation of its monthly vehicle sales totals. The DOJ is reportedly investigating sales reporting as well – NYTimes and Bloomberg

The Carlyle Group is staring down the barrel of a $1 billion civil lawsuit by the failed Carlyle Capital Corp.’s liquidators over the 2008 collapse of the mortgage-bond fund. The trial’s taking place in Guernsey, a British Crown dependency located in the English channel (and best known for its cows) that happens to be where the fund was registered – WSJ

Some additional thoughts on that mega SoftBank/ARM deal, including the presence of Morgan Stanley alumni on both sides of the transaction and what [if anything] the merger means for the post-Brexit UK – NYTimes and WSJ

A former FINRA governor’s bid to life a securities industry ban after he was accused of securities fraud has failed. The 11th Circuit decided yesterday that the permanent injunction against Richard Goble would stand – Law360

The Fed and the renewed possibility of a 2016 rate hike—Brexit and all – WSJ

Even as the final bids were trickling in yesterday, Yahoo was delivering disappointing Q2 numbers, including a 15% drop in revenue and a 64% fall in operating profit, making it significantly tougher for Yahoo to “get top dollar for the company” – NYTimes

More on blockchain technology and the push for smart-contract master templates for self-executing contracts – Law360

Just in time for Rio, a hot [and spicy] new approach for tackling debilitating muscle cramps – WSJ