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Meta Platforms: Difference between revisions
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== Regulatory Environment == | == Regulatory Environment == | ||
September 5, 2023: Meta losses a Norwegian appeal case that sought to stop a fine of $93,200 per day starting from August 4 for collecting user data and using it in its targetted advertising. The daily fine is to run for 3 months. The rulling could have wider implications in europe as Datatilsynet, Norwey's data regulator, plans to refer it to the EU data regulator. "We are disappointed by today's decision and will now consider our next steps," a Meta spokesperson told Reuters<ref>https://finance.yahoo.com/news/norway-court-rules-against-facebook-093639467.html</ref>. | |||
September 5, 2023: Meta Platforms among those designated as "gatekeepers" of online services by EU commission. Under the European Union’s Digital Markets Act (DMA), companies with more than 75 billion euros in market capitalization and 45 million monthly active users are considered as "gatekeepers". Companies labelled as such will be required to make their messaging apps interoperate with that of rivals and allow users to decide which apps to pre-install on their devices. A fine of up to 10% of annual global turnover will be imposed on any company that violates the DMA act. The penalty can go up to 20% for repeated infringement. The "gatekeepers" will have six months to comply with the DMA obligations<ref>https://ec.europa.eu/commission/presscorner/detail/en/ip_23_4328</ref>. | September 5, 2023: Meta Platforms among those designated as "gatekeepers" of online services by EU commission. Under the European Union’s Digital Markets Act (DMA), companies with more than 75 billion euros in market capitalization and 45 million monthly active users are considered as "gatekeepers". Companies labelled as such will be required to make their messaging apps interoperate with that of rivals and allow users to decide which apps to pre-install on their devices. A fine of up to 10% of annual global turnover will be imposed on any company that violates the DMA act. The penalty can go up to 20% for repeated infringement. The "gatekeepers" will have six months to comply with the DMA obligations<ref>https://ec.europa.eu/commission/presscorner/detail/en/ip_23_4328</ref>. | ||