European Union Plans to Announce Regulations for Big Tech
On December 2, European Commission EVP and commissioner for competition Margrethe Vestager and European commissioner for internal market Thierry Breton plan to announce the new rules governing powerful online companies. Among the draft rules of the Digital Services Act and Digital Markets Act, Big Tech companies will have to share data with rivals and regulators. Alphabet chief executive Sundar Pichai also apologized to Breton over a leaked document revealing his company’s proposed tactics against the European Union’s new, tougher rules.
Reuters reports that, “the new draft rules would allow the EU to ban companies or part of their services from the 27-country bloc as an extreme option,” an action currently not available. “Strict rules must be enforceable,” said Breton. “For this we need the appropriate arsenal of possible measures: Impose fines, exclude companies or parts of their services from the Single Market, insist that they split up if they want to keep access to the Single Market. Or a combination of all of these.”
But Breton also warned Pichai that, “the Internet cannot remain a ‘Wild West’: we need clear and transparent rules, a predictable environment and balanced rights and obligations.”
See the full story here: https://www.etcentric.org/european-union-plans-to-announce-regulations-for-big-tech/