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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
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- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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FTC Antitrust Targets: Google, Now Twitter
The Federal Trade Commission quickly is becoming the sheriff of the World Wide Web. Over the span of just 1 week, the government agency has launched antitrust investigations or inquiries into the business practices of Internet giants Google and Twitter.
The Twitter inquiries began in response to complaints that Twitter is making it harder for some software developers to design applications that run in concert with the company’s service - i.e., its business practices harm competition. Last week, it was reported the FTC would formally investigate Google's potential domination of the Web. These latest actions confirm what the industry has been noticing in recent months - that the agency has been taking a more active role in examining the behavior of large Internet companies. An FTC spokesperson declined to comment, as did a spokesperson for SF-based Twitter.
Twitter, which allows people to communicate in 140-character messages, has seen its usage surge since the company was founded 4 years ago. The website is now used by 13% of U.S. adults online, up from 8% in November. Twitter, which competes with social-networking leader Facebook, is trying to improve its products and attract more users and advertisers. Last year, it added more features that matched what independent Twitter developers were already doing, such as applications for smartphones.
One developer, UberMedia, said in an e-mailed statement yesterday that “we have been contacted by the FTC and we intend to fully comply with their request for information.” On its website, UberMedia describes itself as the leading independent developer of applications that help users find and communicate with one another on Twitter. [Bloomberg, 7/1/11]

