EU intends to introduce new regulations on content supervision: large technology companies may face huge fines
According to the new draft regulations scheduled to be announced by the EU next week, if large technology companies such as Google and Facebook do not take more measures to clean up illegal content and disclose more information about advertising on their respective platforms, they will face a maximum fine of 6% of turnover. Technology giants and their actions to control user data and platform access are facing increasingly stringent regulatory scrutiny.
EU Commissioner for Digital Affairs Thierry Breton emphasized that large companies should take more responsibility. He will submit a draft of a new regulation called the “Digital Services Act” on December 15. It is reported that the new regulations define a very large online platform as having more than 45 million users, which is equivalent to 10% of the EU population. The new regulations point out that in order to resolve public policy-related concerns and the systemic risks brought about by the services of super-large online platforms, it is necessary to impose more obligations on them.
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Once the new regulations are implemented, technology giants will have to take more measures to clean up illegal content such as hate speech and child sexual abuse materials, try to prevent their platforms from being abused to violate basic rights, and prevent their platforms from being deliberately manipulated. In addition, technology giants will be required to publish detailed information about their online advertisers and publish the parameters their algorithms use to provide recommendations and sort information. The compliance of the new regulations will be supervised by independent audit institutions and implemented by EU countries.
After the draft is introduced, it may take a year or more for the new regulations to take effect. During this period, feedback from EU countries and the European Parliament must be considered, and technology giants are expected to lobby fiercely.
Via: Reuters
