Big tech platforms face 6% fines if they breach new EU content rules

European Union

Significant platform businesses like Google and Facebook will face fines of up to 6% of turnover if they don’t do more to tackle illegal material and reveal more about advertising on their platforms beneath draft European Union rules.

The EU’s tough line-up, which is expected to be announced next week, comes amid growing regulatory scrutiny globally of tech giants and their management of information and access to their platforms.

EU digital chief Thierry Breton, who has stressed that big companies should bear more responsibility, will introduce the draft principles known as the Digital Services Act (DSA) on Dec. 15.

The Commission record on the DSA found by journalists at our partner news agency Reuters defines very large online platforms as those with over 45 million users, equivalent to some 10% of the EU population.

Additional obligations imposed on very large platforms are necessary to address public policy concerns and the systemic risks posed by their own services, the record stated.

The tech giants will have to do more to tackle illegal material such as hate speech and child sexual abuse substance, misuse of the platforms which impinges on fundamental rights and intentional manipulation of platforms, such as using bots to influence elections and public health.

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The companies will be required to release details of the online advertisers and show the parameters utilized by their calculations to suggest and rank information. Independent auditors will track compliance, with EU countries enforcing the rules.

Facebook declined to comment before publication of the EU record.

The draft principles could take a year or more to come into force since they have to take into account opinions from EU countries and the European Parliament, both of whom are expected to face intense lobbying.

The team at Platform Executive hope you have enjoyed the ‘Big tech platforms face 6% fines if they breach new EU content rules‘ article. Initial reporting via our official content partners at Thomson Reuters. Reporting by Foo Yun Chee. Editing by Alexander Smith.

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