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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 […]

Anti-Article 13 Messages Spread on Vulnerable Internet TVs

Anti-Article 13 Messages Spread on Vulnerable Internet TVs

A protester going by the handle “Cyber Anakin” had reportedly flashed anti-Article 13 messages on unsecured television set-top boxes this week. The message urged EU citizens to stop Article 13 which may take away their right to share memes. According to a recent open letter by a number of experts, the Copyright Directive will transform the tool for the automated surveillance and control of its users, The European Parliament is set to vote on the motion, which was introduced by the by German lawmaker Axel Voss, sometime next week. Source: ZDNet

Another CPU Security Bug Identified by Intel

Another CPU Security Bug Identified by Intel

Intel announced this week that it has found another flaw in its Core-based processors called Lazy FP state restore which can theoretically be exploited to pull data from even software on computers running any OS. Red Hat Computer Architect Jon Masters said that the speculative execution vulnerability allows the floating point registers to be leaked from another process, even the same registers used for crypto. It does not, however, affect AMD processors. Masters said that the fix, which is currently available on Red Hat Enterprise Linux 7, even improves performance. He added that the flaw’s impact is moderate, in such […]

Reuters Study Says Younger Users Now Prefer WhatsApp to Facebook

Reuters Study Says Younger Users Now Prefer WhatsApp to Facebook

According to data gathered by the Reuters Institute, younger audiences now prefer messaging apps such as WhatsApp over Facebook to get news. In a survey of 74,000 consumers in 37 markets, Reuters found that Facebook usage by youngsters went down as much as 20 points. Research associate Nic Newman says that usage is now going down after years of continued growth. This may be attributed to preference of consumers for more private and less confrontational spaces to communicate.   The research is said to show the volatility of consumer tastes as traditional media struggles to cope with the impact of […]

SEC Expected to Clarify Position on Cryptocurrency This Week

SEC Expected to Clarify Position on Cryptocurrency This Week

SEC’s point-person in policy regarding bitcoin and blockchain, William Hinman, is expected to clarify the agency’s position on cryptocurrencies on his speech this Thursday at Yahoo’s All Markets Summit: Crypto in San Francisco. It is said that Hinman will confirm whether ICOs, alt-coins, and ether are securities which are required to register with the SEC. JJ Kinahan, chief market strategist for TD Ameritrade, remarked that everybody is currently uncertain as to what the rules are, and clarity on what is allowed and what is not would be of help to the markets. Source: CNBC

Congress May Block ZTE’s Bid to Resume US Operations

Congress May Block ZTE’s Bid to Resume US Operations

It is said that in the coming weeks, the US Congress may block the Trump Administration’s move to allow Chinese telecommunications giant ZTE to resume its business in the US when the Senate votes on the measure as part of the National Defense Authorization Act (NDAA). If the defense policy bill passes, it may be possible for the ZTE provision to get thrown out during the negotiations for the final version of the NDAA. The House NDAA includes a separate provision prohibiting the US government agencies from using “risky” technology from ZTE or Huawei, which are considered to be “linked […]

Parents Complain to ASA After Kids See Horror Ad on YouTube

Parents Complain to ASA After Kids See Horror Ad on YouTube

Three parents filed complaints against YouTube after their children had inadvertently watched an ad for a horror movie called Insidious: The Last Key, which is rated 15 in the UK. It is said that the ad was shown before videos of songs from Frozen, a Lego fire station instructional, and a clip from PJ Masks. The parents said that the kids witnessed scenes where a young woman was seen “lying on a floor immobile, bloodied and distressed while a humanoid creature crept towards her and then probed at her with claw-like fingers and pierced her skin”. YouTube clarified that the […]

Award-Winning Smart Lock Can be Hacked in Seconds, Researchers Say

Award-Winning Smart Lock Can be Hacked in Seconds, Researchers Say

Security expert Andrew Tierney from Pen Test Partners (PTP) recently revealed in a blog post that he was able to unlock a high-tech fingerprint-secured padlock using a smartphone. Tierney said that it took him 45 minutes to figure out how to hack the Tapplock which he was able to unlock in just 2 seconds. He added that lock’s software was not able to adequately secure the data it broadcasts, leaving it vulnerable to several “trivial” attacks. In response to the discovery, the lock company said that it will be issuing a software update to address the issue and advised customers […]

Hackers with NoKor Ties Hit South Korean Think Tank with Zero-Day Flaw

Hackers with NoKor Ties Hit South Korean Think Tank with Zero-Day Flaw

North Korean hackers had reportedly attacked South Korea’s Sejong Institute with an ActiveX zero-day vulnerability to deliver a backdoor malware on the systems of the non-profit think tank. The flaw was discovered in May on one of the think tank’s website AhnLab, a South Korean cybersecurity company. Researchers say that the attack was carried out by the Andariel Group, an offshoot of Lazarus which is known to have ties with North Korea. The malware was said to have been used to compromise a Taiwanese bank’s SWIFT financial communications system to move funds from an overseas accounts. Source: ZDNet

Toyota Pumps $1 Billion Investment Into Grab

Toyota Pumps $1 Billion Investment Into Grab

Southeast-Asian ride-hailing firm Grab announced this week that it will be getting $1 million in fresh investment from Japan’s Toyota Motors to expand their partnership and explore new strategies for the region. It was also revealed that a Toyota executive will be appointed to Grab’s board of directors and a team member will be elevated to an executive position in the Singapore-based company. Grab adds that the investment will allow Toyota to integrate services such as user-based insurance and predictive maintenance with them which may serve as an incentive for drivers to drive more safely to to lower their insurance […]

Australia Funds Pacific Undersea Cable to Block China

Australia Funds Pacific Undersea Cable to Block China

Australia had reportedly agreed last Wednesday to fund the laying of underwater internet cables and a cyber security center for the Solomon Islands, blocking plans by Chinese telecom giant Huawei Technologies Co Ltd. who was originally contracted to complete the project. It is said that Australia deliberately stepped in due to security concerns posed by the involvement of Huawei. Australian Foreign Minister Julie Bishop told the media that while she will not elaborate on the issue, she confirmed that the Solomon Islands had already agreed to their deal which was cheaper. However, a A Huawei spokesperson said that they were […]