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PCC Publishes its Rules of Procedure

PCC Publishes its Rules of Procedure

The Philippine Competition Commission (PCC) has published its 2017 Rules of Procedure (Rules), which shall guide the PCC in the handling of complaints, referrals from regulatory agencies, and motu proprio inquiries, as well as in the conduct of its investigations. Under the Rules, the PCC, through the Enforcement Office, shall conduct a 90-day preliminary inquiry on the basis of a verified complaint, referral by a regulatory agency, or a directive from the Chairman and the Commissioners of the PCC 
(Commission), to determine whether there are reasonable grounds to conduct a full administrative investigation for any violation of the Philippine Competition […]

Asia Business Law Journal Interviews JJ Disini on Fintech

“Fintech”, short for financial technology, has become a major buzzword in recent years, especially in the most developed countries of the world. It is, however, still a relatively murky concept in some areas of the Asia-Pacific, even though it has already brought significant change to the economic landscape in the region. Many experts are seeing enormous fintech opportunities in the Asia-Pacific, and are also predicting the region to surpass the US and Europe in fintech innovations. Some say that government support, regulatory facilitation, consumer willingness, and easy access to capital are just a few of the reasons contributing to this […]

Facebook Moves to Exclude 1.5 Billion Users from GDPR Protection

Facebook Moves to Exclude 1.5 Billion Users from GDPR Protection

Facebook has reportedly made some changes to lessen its exposure to the EU’s upcoming data privacy rules. The move is expected to exclude around 1.5 billion users around the world from the protections brought by the GDPR. It is said that the social network is planning to grant such protections only European users, which means that those in Africa, Asia, Australia, and Latin America will still be governed by the original terms of service agreed with the company’s international headquarters in Ireland. The changes will remove a significant potential liability from Facebook. However, the GDPR still covers all entities that […]

EU Antitrust Head Reports Progress in Android, AdSense Probe

EU Antitrust Head Reports Progress in Android, AdSense Probe

European Competition Commissioner Margrethe Vestager reported Wednesday that the EU Commission’s investigation into Google’s anti-competition case involving Android and AdSense is advancing. The case had been opened in 2015 after a lobbying group called FairSearch had filed a complaint. A 2016 document revealed a proposal to levy a large fine against the search giant for its revenue-sharing agreements with smartphone makers that pre-install Google Search. Google was also accused of being anti-competitive by requiring Chrome and other Google apps to be installed with Google Play, as well as blocking competitors using AdSense. Lawmaker Ramon Tremosa lamented that “Five years in […]

Facebook to Build Own Chips, Hires Engineers

Facebook to Build Own Chips, Hires Engineers

According to Bloomberg last Wednesday, a recently discovered job listing posted by Facebook seems to indicate that the social network is looking to build its own chips. The tech giant is currently looking for a manager for an end-to-end SoC/ASIC, firmware and driver development organization. It is said that most tech companies have sought gains through chip customization specifically for artificial intelligence, but it has not been revealed if Facebook will be using the hardware for AI. The report was said to have caused the slight dip in Intel’s stock which rebounded before the market closed. Facebook has not yet […]

Two New TNC’s Accredited by LTFRB

Two New TNC’s Accredited by LTFRB

The Land Transportation Franchising and Regulatory Board (LTFRB) last Wednesday had accredited two new TNC’s, Hype and HirNa, which is expected to directly compete with Grab. Hype, which has a business model that closely resembles Grab’s, is expected to serve the public by mid-May. HirNa will be initially rolled out in Davao City, while u-Hop is already operating as a TNC. Hype COO Jen Silan says that starting Monday, they will be accepting pre-qualifications and pre-accreditations for all drivers and TNVS with existing provisional authority permits, Certificates of Public Convenience, and case numbers with the LTFRB.   Source: CNN Philippines

Dow Jones Media, Brave, to Test Consent-Based Ads

Dow Jones Media, Brave, to Test Consent-Based Ads

According to a press release last Wednesday, The Dow Jones Media Group has formed a partnership with privacy-focused browser Brave to test blockchain technology for digital advertising. Brave says that it will be providing access to either Barrons.com or the MarketWatch newsletters to a limited number of users, as the two will become verified publishers on the browser’s BAT platform. Users can earn BAT tokens by engaging ads from verified publishers which they can use to pay for premium content. Brave browser author Brendan Eich says that they are “trying to reconnect the funding that comes in gross payments after […]

Amazon Gets Patent for Streaming Data Marketplace for Real-time Crypto Data

Amazon Gets Patent for Streaming Data Marketplace for Real-time Crypto Data

According to a document released by the USPTO last Tuesday, Amazon Technologies Inc. has been granted a patent for a multi-streaming data marketplace that would allow users to see real-time cryptocurrency transactions data. The technology developed by the Amazon subsidiary is designed to process streaming data on a large scale with relatively low latency, allowing developers to “build real-time dashboards, capture exceptions and generate alerts, drive recommendations, and make other real-time business or operational decisions. The technology can also be used as a data stream that publishes cryptocurrency transactions visible to all network participants. Source: Coin Telegraph

New Study Says China, Japan, Australia Prime Targets of Botnets

New Study Says China, Japan, Australia Prime Targets of Botnets

CenturyLink’s Threat Research Labs recently released data showing that countries with robust or growing IT infrastructures are still hot targets for cybercriminals. The researchers found that APAC countries China, Japan, South Korea, Taiwan, and Australia received the most attacks from botnets this year. Previously it had been the US, China, Germany, Russia, and the UK. However, it was noted that US, China, and Russia are also the top origins of malicious traffic, while China, South Korea, Japan, India, and Hong Kong hosted the most command-and-control servers used by hackers for gathering and directing botnets. Such botnets are often comprised of […]

Homeland Says US Will Take Tougher Stance Against Cyber Criminals

Homeland Says US Will Take Tougher Stance Against Cyber Criminals

At the recently held RSA conference last Tuesday, Homeland Security Secretary Kirstjen Nielsen issued some words of warning to cyber criminals, saying that the US will not tolerate cyber meddling aimed at the heart of the country’s democracy. Nielsen said that “complacency is being replaced by consequences” and threatened attackers that the US will not be passive while its networks are being compromised. She also urged that malicious behaviour be punished, and added that the federal government will be using all the tools at its disposal to dispense the appropriate punitive actions. Nielsen also explained that cybersecurity is now a […]

Facebook: Users Must Agree to Targeted Ads to Use the Service

Facebook: Users Must Agree to Targeted Ads to Use the Service

Facebook clarified last Tuesday that users will have to agree to receive targeted ads if they want to continue using the service. It was noted that this would ensure that the social network’s business model holds after the EU’s new privacy laws take effect. Under the GDPR, companies that collect or use the personal information of a European without their consent will be penalized. Facebook Deputy Chief Privacy Officer Rob Sherman announced that they will be seeking Europeans’ permission this week for a variety of ways Facebook uses their data. However, he clarified that opting out of targeted marketing altogether […]

Major Tech Companies Sign Cybersecurity Tech Accord

Major Tech Companies Sign Cybersecurity Tech Accord

At the recently held RSA conference, 34 tech firms including Microsoft, Facebook, Cisco, and SAP have signed an agreement called the Cybersecurity Tech Accord where they vowed to protect users from cybersecurity threats and not participate in any government-supported cyber attacks. Those who have signed the accord are required to commit to four pillars: 1. Building stronger defenses to protect all internet users around the globe. 2. Oppose any offensive cyber attacks. 3. Empower people, businesses and developers. 4. Work together and with other private and public sector partners to mitigate threats. Microsoft President Brad Smith emphasized that the wave […]