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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 Looking to Acquire Cybersecurity Firm

Facebook Looking to Acquire Cybersecurity Firm

The Information revealed this week that Facebook is reportedly looking to acquire a cybersecurity firm to bolster its efforts to protect its social network. Sources have said that the tech giant is scouting several unidentified companies and the deal could be announced as early as the end of the year. The move is seen as an effort to improve Facebook’s image and reinforce the idea to its users that the company is highly concerned about protecting their data and privacy. Source: CNET

Local Startup Uses Facial Recognition for Highly Targeted Ads

Local Startup Uses Facial Recognition for Highly Targeted Ads

Local tech startup AdMov recently revealed a solution to the advertising saturation and visual fatigue that may hinder advertisers from reaching their intended audience. AdMov says that by installing tablets equipped with facial recognition technology in the back seats of ride-hailing vehicles. The tablets can then curate targeted ads for the passenger based on their age gender and mood. Co-founder Bobby Cristuta says that when they show ads, it gives data to advertisers as well. There is no wastage since they also use the information for targeting and for brands.     Source: Rappler

Blockchain Engineer Salaries Rising, Now at Par with AI Experts

Blockchain Engineer Salaries Rising, Now at Par with AI Experts

Recent statistics provided by recruitment firm Hired showed that blockchain engineers are now making around $150,000 to $175,000, despite the downturn in the cryptocurrency market. Hired adds that this salary range is fast increasing and already at par with the salaries of artificial intelligence developers, and higher than any other specialized engineering roles. In fact, Hired CEO Mehul Patel says that blockchain as a desired skill has risen to 400 percent this year alone. Job postings from companies such as Amazon, IBM, Facebook and Microsoft have also contributed to the increasing demand in blockchain experts. Source: CNBC

Startup Backed by Goldman, Visa Launches in Europe

Startup Backed by Goldman, Visa Launches in Europe

US financial technology startup Marqeta announced this week its expansion into Europe where it will be helping new companies issue payment cards. The startup, backed by Goldman Sachs Group Inc and Visa, will be headquartered in London where it will be composed initially with a team of five. It added that it has already signed up new clients on its roster that now includes Square Inc. the payments company founded by Twitter’s Jack Dorsey, Paypal’s lending startup Affirm, and Alipay. Marqeta CEO Jason Gardner says that they have already invested a considerable amount of resource for tech and operations in […]

Ex Deputy PM Hired by Facebook for Lobbying Efforts

Ex Deputy PM Hired by Facebook for Lobbying Efforts

Former deputy prime minister Nick Clegg officially confirmed last week his decision to work as Facebook’s global lobbying and communications executive. The move is said to be in preparation for a showdown with governments over new legislations proposed to address concerns over fake news and the Cambridge Analytica scandal. Meanwhile, Clegg said in a recent interview that his role in the company would be to tackle “very thorny issues” affecting big tech companies such as balancing free speech and censorship, the power of artificial intelligence, and conflict between global internet and national jurisdiction. Source: The Guardian

ISPs Move to Block Vermont Net Neutrality Law

ISPs Move to Block Vermont Net Neutrality Law

Five industry groups representing providers including AT&T Inc, Comcast Corp and Verizon Communications Inc filed a lawsuit against the state of Vermont to block a law that would prevent companies that do not comply with net neutrality laws from receiving state contracts. The lawsuit says that states cannot regulate “indirectly through their spending, procurement, or other commercial powers what they are forbidden from regulating directly.” Last September the US Justice Department also filed its own lawsuit to block California’s law which will come into force on Jan. 1. The case will be heard this coming November 28.   Source: Reuters […]

Facebook Fact-Checking Partners Seeing Less Work Than Expected

Facebook Fact-Checking Partners Seeing Less Work Than Expected

FactCheck.org, one of the fact checking organizations contracted by Facebook, recently revealed that they were able to review less than one post per day on the average. In 2016, Facebook announced its fact checking partners which included FactCheck.org, Snopes, Politifact and ABC News. It has since added the Associated Press and The Weekly Standard Fact Check among its U.S.-based reviewers. However, FactCheck.org says that the two staffers it assigned to Facebook are getting almost no work, and it is said that other organizations are experiencing the same. Facebook responded and said that while fact checking is one of its strategies […]

Loophole Found in Facebook’s Political Ad Transparency Scheme

Loophole Found in Facebook’s Political Ad Transparency Scheme

The Daily Beast recently said that it had identified a digital media startup that was able to find a loophole in Facebook’s new political ad rules by disguising the source of the money used to pay for the ad. The startup reportedly created a limited liability company to buy between $1.2 million and $4.6 million worth of political ad over the course of five months. However, the name of the startup was not revealed in the ad since it was the LLC that paid for it. Meanwhile, a Virginia congressional candidate had reportedly been targeted by a series of nasty […]

UK’s ARM Holdings Caught in Khashoggi Dilemma

UK’s ARM Holdings Caught in Khashoggi Dilemma

UK chip maker ARM Holdings is said to be caught in a dilemma involving journalist Jamal Khashoggi, which recently disappeared and is presumed to have been murdered in the consulate of Saudi Arabia in Istanbul. ARM CEO Simon Segars is scheduled to speak at a grand investment conference in Saudi Arabia which is being called the “Davos in the Desert”. However, a number of big tech and financial companies had already pulled out of the event as the issue of the disappearance of Khashoggi gains media traction. According to BBC, ARM’s PR team has yet to reveal whether Mr. Segars […]

France’s LeMaire Calls for Expedited GAFA Tax

France’s LeMaire Calls for Expedited GAFA Tax

French finance minister Bruno LeMaire recently complained about the delay in the approval of taxes for internet giants such as Google, Apple, and Facebook, saying that the imposition of levies on revenues earned on online services in the European Union is being blocked purely for political reasons. In a recent interview, LeMaire said that discussions on the matter is being riddled with excuses. He also pointed out that all technical issues have already been resolved, and small or medium-sized companies in EU member states such as France, Germany or Italy on average pays 14 percentage points more in tax than […]