EU regulators are drawing up a “hit list” of up to 20 large internet companies, likely to include Silicon Valley giants such as Facebook and Apple, that will be subject to new and far more stringent rules aimed at curbing their market power. From a report: Under the plans, large platforms that find themselves on the list will have to comply with tougher regulation than smaller competitors, according to people familiar with the discussions, including new rules that will force them to share data with rivals and an obligation to be more transparent on how they gather information. The list will be compiled based on a number of criteria, including market share of revenues and number of users, meaning the likes of Facebook and Google are likely to be included. Those deemed to be so powerful that rivals cannot trade without using their platforms could also be added.
The move to gain new powers is part of a growing effort in Brussels to force big technology companies to change their business practices without a full investigation or any finding that they have broken existing laws. It follows complaints that the current regulatory regime has resulted in weak and belated action, which has done little to foster competition. The number of companies and the precise criteria for the list is still being discussed, but it is the latest indication of how serious the EU is about coming up with powers to limit the power of platforms seen as “too big to care.”
of this story at Slashdot.
Source:: Slashdot