Proposal would give EU power to boot tech giants out of European market- Companies could be broken up or forced to sell off European operations.

[SilentPanda]

EU Commissioner Thierry Breton told the Financial Times that the proposed remedies, which he said would only be used in extreme circumstances, also include the ability to exclude large tech groups from the single market altogether.

In addition, Brussels is considering a rating system that would allow the public and stakeholders to assess companies' behavior in areas such as tax compliance and the speed with which they take down illegal content.

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The new EU legislation would increase Brussels' powers to scrutinize the way technology companies gather information on users, following concerns raised by independent researchers that the voluntary disclosures groups make are often misleading or partial.

Mr. Breton confirmed that the EU would not remove the limited liability that companies have for the content published on their platforms. "The safe harbor of the liability exemption will stay," he said. "That's something that's accepted by everyone."

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However, regulators in Brussels are drawing up a blacklist of activities that technology companies would be required to stamp out. They are proposing a sliding scale of penalties for non-compliance, up to and including the separation of some operations. Mr. Breton said draft legislation will be ready by the end of the year.

Activities that could lead to tougher sanctions include companies preventing users from switching platforms or forcing customers to use only one service, he added.

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Mr. Breton said the new system of oversight will be based on a collective effort between national governments and the EU.

"We need better supervision for these big platforms, as we had again in the banking system [after the financial crisis]," he said.

Proposals are being finalized, and once they are agreed they will go through the European Parliament and the European Council.

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Proposal would give EU power to boot tech giants out of European market

Companies could be broken up or forced to sell off European operations.

arstechnica.com

 

[Rafavert]

Hmmm... Is this related to the Facebook situation?

Either way, seems like a win for the consumers, though we might lose access to some products/services if a company isn't willing to comply. Still, it's just a proposal for now.

 

[Dis]

I gotta say this is good to hear and also sad for me as the UK is being fucking idiots and leaving the bloc and I have little faith the tories would ever push for such rules here.

I don't know if this is related to the Facebook thing I read earlier on era but I do find the idea that these companies would "leave the EU market" if they are forced to act in a way better for consumers funny as fuck, the reason they don't want to act for consumers interests is because their mindset is generally the American wallstreet one of profits for shareholders above all else, and if they want to leave then they'll also be saying to shareholders "prepare for a shock to your share value as you'll suddenly lose hundreds of millions of consumers"........the fact they would rather do that than comply with laws to make them treat consumers better is so insane.

 

[GrantDaNasty]

in areas such as tax compliance and the speed with which they take down illegal content.

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Seems like this would be for Facebook/Twitter and Apple (possibly regarding the tax compliance thing)

Would the illegal content cover blatant copycat apps or imposter apps on App and Play stores?

 

[Metal Gear Miyamoto]

Good, it's a tired cliché but nonetheless good te remember that companies are not your friends.

Anything to keep giants in the field in check.

 

[Eoin]

Hmmm... Is this related to the Facebook situation?

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Not really, the Facebook "situation" (insofar as one exists) is that Facebook is unhappy that there's no way for it to transfer user data from the EU to the US. That's due to existing EU data protection law and the collapse of a scheme that the EU hoped would be in accordance with that law but which was ruled to be not compliant by the ECJ.

The powers talked about in this topic are proposals for the Digital Services Act, which is a long-planned (but still upcoming) piece of legislation.

 

[Solace]

Fuck yeah, Europe keeps wining.

 

[krazen]

Good. Someone has fucking common sense in the world. Hopefully this will lead to a trickle down effect.

 

[fanboi]

Very good that it can be done on a EU level since leaving it per nation basis is rather toothless, this is possible in the US as well.

 

[Arkanim94]

dooooooo it.

 

[Phantom]

How is Amazon able to do what it does baffles me. It's not good for local businesses, it's not good for worker rights/conditions, it's not good for the environment, the only ones who win are big corporations.

 

[Binabik15]

We're far from perfect, but feel really good living in the EU. Wouldn't want to be without it and wouldn't let any nationalism come between us EU buddies 🤗

The consumer's rights acitivism alone is worth it.

 

[Rafavert]

Not really, the Facebook "situation" (insofar as one exists) is that Facebook is unhappy that there's no way for it to transfer user data from the EU to the US. That's due to existing EU data protection law and the collapse of a scheme that the EU hoped would be in accordance with that law but which was ruled to be not compliant by the ECJ.

The powers talked about in this topic are proposals for the Digital Services Act, which is a long-planned (but still upcoming) piece of legislation.

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Geez, thay makes Facebook sound even scummier...

 

[Night Hunter]

Yes, please!

EDIT: I can't wait for the American Corporation Defense Force to show up. This is going to be a good one.

 

[Joni]

Considering what the US is doing to TikTok, I'm in favor of the EU forcing the same on Facebook, Google and Amazon to protect data.

 

[Xando]

which he said would only be used in extreme circumstances, also include the ability to exclude large tech groups from the single market altogether.

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This is gonna get shot down faster by ECJ than ERA can say monopoly

 

[killerrin]

Woohoo! Go EU! Beat those companies into submission.

 

[Deleted member 4874]

moving back to Europe keeps sounding better by the day