The European Union’s (EU) Antitrust Chief Margrethe Vestager said new rules may be imposed to ensure companies that collect data are not misusing it, according to a report by Reuters.
Vestager, who made the comments on Friday, September 13, was recently appointed to stay in her position as European competition commissioner for another five years. Her comments could mean there will be new rules on the horizon to specifically cover how companies handle data.
So far, most data issues with tech companies have been handled on a case-by-case analysis, without specific regulatory guidelines. Vestager has fined Google and Qualcomm around US$10 billion euros after they were found to have squashed competition.
“If we want to define the market, to set out what’s acceptable and what isn’t, then what we need is not more competition enforcement. We need regulation,” she said in Copenhagen. “So we may also need broader rules to make sure that the way companies collect and use data doesn’t harm the fundamental values of our society.”
Vestager said the data protection rules that were put in place in 2018 did allow for control over personal data, but fell short when it came to tech companies using data to make conclusions about individuals or in terms of maliciously undermining democracy.
In July, it was reported that Amazon would face a major investigation by the Commission. The probe had been ongoing, but there were questions about whether it would grow wider. The investigation centered on how Amazon uses data from third-party merchants on the platform. Vestager was mainly trying to determine how Amazon operates with smaller companies, and whether it gives itself an advantage over them.
“They host a lot of little guys, and at the same time, they’re a big guy in the same market,” Vestager said. “So how do they treat the data they get from the little guy? Does that give them an advantage that cannot be matched?”
Full Content: PYMNTS
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI