EU planning tougher rules for big tech firms

Source : 112 Ukraine

The list includes up to 20 large internet companies
14:49, 12 October 2020

The European Union

European Union regulators are making a "hit list" of up to 20 large internet companies. The list will potentially include Facebook, Apple, Amazon and Alphabet's Google. These companies will be facing new and tougher rules aimed at curbing their market power. This is reported by Reuters, citing the Financial Times.

The big technology platforms will have to comply with tougher regulation than smaller competitors.

New rules will force the companies to share data with rivals and be more transparent on how they gather information, according to the report.

The list will be made based on parameters like market share and number of users, the newspaper reported, adding that the exact number of companies and the precise criteria for the list was still being discussed.

Related: Europe’s privacy rules hurt small firms, not tech giants

As we reported, The European Commission enhances control over the world's major digital companies - Apple, Google, Amazon, and Facebook.

Control is needed to protect consumers and small competitors of digital companies. New rules will have been developed by the end of the year.

Brussels is considering introducing a rating system that would allow stakeholders to assess digital companies' compliance with tax requirements, as well as the overall time required to remove any illegal content.

Related: Ukraine interested in developing cooperation with Amazon

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