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FP/wire say SEC concludes look at Twitter bots, spam

2022-08-25 07:06 ET - In the News

See In the News (C-*SEC) U S Securities and Exchange Commission

The Financial Post reports in its Thursday edition that the U.S. Securities and Exchange Commission recently pressed Twitter for more information on how the company identifies spam accounts, adding to scrutiny over the platform's processes for keeping tabs on its user base. A Bloomberg dispatch to the Post says that the SEC's June 15 query to chief executive officer Parag Agrawal, which was made public on Wednesday, centred on statements in the firm's latest annual report. The company has said that spam and bot accounts comprise less than 5 per cent of its user base. Twitter is on the defensive this week over how it tracks and keeps tabs on fake accounts after a whistle-blower complaint alleged the company did not do enough to deal with bot activity on its platform. While the company has denied those allegations from its ex-head of security Peiter Zatko, some legal experts say it could bolster Elon Musk in his attempt to walk away from a $44-billion (U.S.) buyout of the platform. In response to the SEC, Twitter's lawyers told the regulator on June 22 that the company "already adequately discloses the methodology" that it uses. The SEC also posted on a July 27 letter noting that it had concluded its review.

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