iTWire - EU proposes new laws to keep big technology companies in check
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Wednesday, 16 December 2020 06:28
EU proposes new laws to keep big technology companies in check
By Sam Varghese
Image by Clker-Free-Vector-Images from Pixabay
The European Commission, the executive arm of the EU, has proposed new laws under which technology companies can be fined up to 10% of their global turnover and also face orders to split up.
The Digital Markets Act and Digital Services Act are aimed at online companies that serve as gateways to online transactions and also big online platforms. Amazon, Apple, Facebook and Google are all covered by the new laws.
"When a gatekeeper engages in unfair business practices, it can prevent or slow down valuable and innovative services of its business users and competitors from reaching the consumer," the EC said in a statement.
"Examples of these practices include the unfair use of data from businesses operating on these platforms, or situations where users are locked in to a particular service and have limited options for switching to another one."
Margrethe Vestager, executive vice-president for a Europe fit for the Digital Age, said: “The two proposals serve one purpose: to make sure that we, as users, have access to a wide choice of safe products and services online.
"And that businesses operating in Europe can freely and fairly compete online just as they do offline. This is one world. We should be able to do our shopping in a safe manner and trust the news we read. Because what is illegal offline is equally illegal online.”
Commissioner for Internal Market Thierry Breton said: “Many online platforms have come to play a central role in the lives of our citizens and businesses, and even our society and democracy at large.
"With today's proposals, we are organising our digital space for the next decades. With harmonised rules, ex ante obligations, better oversight, speedy enforcement, and deterrent sanctions, we will ensure that anyone offering and using digital services in Europe benefits from security, trust, innovation and business opportunities.”
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