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Elon Musk accuses the SEC of information leakage

The verbal battle rages on.

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Elon Musk’s spat with the Securities and Exchange Commission is heating up, with the company accusing the SEC of “leaking” information from a federal inquiry in retaliation for his public criticisms.

The allegation is contained in a new letter from Musk’s lawyer, Alex Spiro, to US District Judge Alison Nathan, who oversaw the settlement between Elon Musk and the SEC over Musk’s “funding secured” tweet in 2018, which put him in prison for securities fraud. It was Musk’s third letter to the US government in two weeks, and it shows no signs of letting up.

Elon Musk accuses the SEC of leaking information about a federal investigation into his securities fraud case. Spiro writes:

It has become clearer and clearer that the Commission is out to retaliate against my clients for exercising their First Amendment rights—most recently by criticizing the Commission on the public docket and by petitioning this Court for relief. Upon information and belief, after I filed the February 17, 2022 letter to this Court regarding the Commission’s conduct, at least one member of the SEC staff responded by leaking certain information regarding its investigation. This leak is emblematic of the vindictive, improper conduct that occasioned my letter: the SEC is retaliating against Mr. Musk and Tesla, without answering to the constraints of principle or law in so doing.

Spiro goes on to tell Nathan that Musk’s legal team has “referred the situation” to the SEC’s inspector general and that SEC personnel should “preserve their documents and devices.” According to him, he also wants an “on-the-record assurance that the Commission has not disclosed investigative details in violation of its own rules and practices, and is otherwise acting in compliance with the law.”

To be sure, Spiro doesn’t present any proof to back up his assertion of information being leaked. The SEC’s representative declined to comment on Musk’s latest letter.

For the past three years, Tesla has been dogged by the infamous “funding secured” tweet. The SEC initiated an inquiry after Musk sent the tweet, eventually concluding that Musk had deceived investors about his plan to take Tesla private.

Tesla and the SEC agreed a year later that Musk’s tweets about Tesla should be monitored more closely. According to the agreement, Musk’s tweets about Tesla’s financial health, sales, or delivery numbers—projected or otherwise—as well as other specified issues will be pre-approved by a corporate lawyer.

Musk claimed the SEC was trying an “unconstitutional power grab,” and the agency claimed Musk was in “blatant violation” of the settlement agreement. A federal judge eventually ordered the two parties to work things out.

However, tensions rose this month when it was disclosed that the Securities and Exchange Commission had subpoenaed Tesla late last year over Musk’s remarks. Musk accused the SEC of subjecting him and his company to “endless, unjustified investigations” and claimed the agency was failing to follow through on its promise to disburse $40 million in fine money to Tesla shareholders as part of a 2018 settlement. The SEC reacted by saying it was still working on a plan to distribute the money.

RV Cuarto is the founder and editor-in-chief of EveryTechEver, a startup team of writers and researchers. He started in tech journalism in the early days of 2012 as the founder of the successful tech site Nokia Revolution. His belt of experience spans across the industry, from consumer electronics, data operations, and cloud computing, with several brands including Dell, Nokia, Realme, and Huawei. He is also an HIV advocate and a public speaker. He spends his free time singing, playing mobile games, and experimenting with new recipes in his kitchen. Follow him on Tiktok.

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FinTech

Home Credit launches “Para sa Life” campaign

With new song performed by Moira dela Torre.

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Home Credit Philippines (HCPH), the country’s leading consumer finance company, launches the Para sa Life campaign that shares a message of hope for a better life for Filipinos. This new initiative of Home Credit is launched through a campaign video with a song performed by Filipino singer-songwriter Moira Dela Torre.

With the hope to inspire new beginnings, Home Credit positions itself as a reliable financial partner that assists Filipinos as they begin a new chapter in life. Apart from providing financial assistance and literacy, Home Credit aims to empower Filipinos to claim what they deserve and to jump-start a new life through various opportunities they offer.

“This new song of Home Credit encapsulates the brand’s promise of companionship through the use of their easily accessible and affordable financial products, especially for the underbanked and underserved customers. Furthermore, the song relays that Home Credit is ideal for young families and starting individuals who aspire to establish their lifelong plans and help them turn small dreams into reality,” shares Sheila Paul, HCPH’s Chief Marketing Officer.

The campaign video is posted on Home Credit’s Facebook and YouTube pages.

A guide “Para sa Life”

More than a financial service provider, Home Credit also promotes inclusivity and gives opportunities to all Filipinos through various platforms.

Aside from the new song and to continue its campaign for financial literacy Home Credit will be launching “Payo Para sa Life”, a two-minute daily radio show. The show is produced in partnership with Manila Broadcasting Company (MBC), and local independent media agency PraXis.

The show aims to reach different communities and individuals across the country to discuss fundamental financial literacy issues and to educate them about the intricacies of finance, from primary budgeting to helping them make the most practical personal purchases. The radio show airs on DZRH primetime between 4:00 to 5:00 a.m. daily.

Home Credit continues to serve its consumers with safe and world-class financial services and champions financial inclusion and literacy even in these uncertain times while exercising its core principles, promoting sustainability and social responsibility. It remains steadfast in guiding Filipinos in every step of their journey towards securing a better and brighter life ahead.

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ING Philippines launches security education campaign – #SimplySecuredWithING

Security and frictionless banking experience go hand-in-hand at ING

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Digital banking, especially via mobile devices, is quickly becoming the top-of-mind mode of transactions for many Filipinos. While it is highly associated with ‘speed’, ‘convenience’, and ‘ease of use’ among its users, digital banking is often seen as ‘less safe’ and could be more prone to hacking and fraud.

Conventional ways of ensuring account security, such as complex password, is no longer a guarantee from hacking, nor does ownership of a smartphone immediately imply that the user is familiar with technology or any of the jargon it comes with.

With these various factors of uncertainty, the fight for better security seems to result in a more intimidating experience for some people. However, for ING Philippines, the principle of continuously offering frictionless and easy banking goes hand-in-hand with donning a strong security approach.

“Adoption of digital banking is here to stay and all players in this ecosystem, such as banks to e-wallets and payment services providers, have to make ‘security’ the top priority while providing a smooth and frictionless banking experience in today’s digital age.

At ING, instead of creating a series of hoops and hurdles for the user, we do the heavy lifting,” said Hans B. Sicat, country head and managing director of ING Philippines. “The underlying goal is to create a simpler, more straightforward experience while keeping our customers and their accounts secure,” added Hans.

Differentiating campaigns to inform and collaborate with customers on security

Anchored on the belief that a secure and frictionless banking experience need not be complicated or only accessible to the ‘tech-savvy’ ones, ING wants to reassure its customers that it is #SimplySecuredWithING so they are free to ‘do their thing’ – as aligned with ING’s global tagline.

The campaign hero material features ways in which ING is protecting its customers in common day-to-day scenarios:

  • Device Binding

As the first mobile-only banking player in the Philippines, ING uses ‘device binding’ where a customer’s ING account can only be accessed on mobile devices that are authorized by the customer through face recognition and personal information authentication. This reduces the chances of account hacking and unauthorized access.

  • Continuous Monitoring

Round-the-clock monitoring of the accounts and confirmation messages are sent with every transaction, so the customer is informed of any activity on/her account.

  • Emergency Measures

In the event of suspicious activity, ING verifies the transaction directly with the customer and gives the option to either confirm the transaction or limit the account and card usage while an investigation takes place. Customers can also choose to freeze or unfreeze their debit cards in one tap via the ING mobile app when they need to secure them. 

“Beyond the regular security reminders, the #SimplySecuredWithING campaign aims to inform ING customers by using day-to-day scenarios and simplifying terms to understand ING’s existing security features. More importantly, our customers can be equipped to respond to these common scenarios related to their accounts as depicted in the video. Through this, ING hopes to collaborate with our customers on building safe digital banking practices while assuring them of the high level of security measures taken to protect their accounts,” Hans added.

Watch the #SimplySecuredWithING video on: https://fb.watch/dmEhdMfT0D/

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Globe At Home tops Netflix ISP speed index for 4th straight month

Globe At Home also dominated the list for 10 out of 12 months.

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Globe At Home has topped the Internet Service Providers (ISPs) performance rating of subscription-based streaming service Netflix in the Philippines for the fourth straight month this year.

Based on the April 2022 Netflix ISP Speed Index, Globe scored the fastest speeds through its Globe At Home Broadband Business. In 2021, Globe At Home also dominated the list for 10 out of 12 months.

Globe’s score is at par with that of the country’s overall rating.  Others in the same category are Argentina, Austria, Bolivia, Brazil, Chile, Ecuador, France, Greece, India, Indonesia, Italy, Japan, Mexico, Paraguay, Poland, Taiwan, Trinidad & Tobago, Turkey, Uruguay, and Vietnam.

globe at home

Netflix’s ISP Speed Index determines which ISPs offer the best viewing experience during peak hours. The data is gathered from subscribers using the online video streaming platform.

The speed index is vital for Netflix streaming because its videos load quickly on networks with low latency, packet loss, and jitter. Otherwise, users may encounter issues such as buffering and pixelization while watching videos.

“We are glad that we could offer consistent, high-quality video streaming speed.  It is a testament to our unrelenting efforts to provide affordable, world-class connectivity to Filipinos across the Philippines,” said Barbie Dapul, Globe At Home Vice President for Marketing.

Globe is spending P89 billion this year for its aggressive network expansion to boost internet quality and coverage. This is part of its commitment to the United Nations Sustainable Development Goals, particularly SDG No. 9, which underscores the crucial role of infrastructure and innovation in development.

This year’s capital expenditure allocation will be used to build new cell sites, upgrade existing sites to 4G/LTE, accelerate the rollout of 5G connectivity, and fast-track the fiberization of Filipino homes nationwide.

Last year, Globe spent a record P92.8 billion to build 1,407 new cell sites, upgrade over 22,300 mobile sites, install more than 2,000 5G outdoor sites and in-building solutions, and lay down fiber to 1.4 million homes.

To learn more about Globe, visit www.globe.com.ph.

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