European regulators want to question Big Tech firms about potential threats of generative artificial intelligence (AI). To that end, the European Commission (EC) has sent requests under the Digital Services Act (DSA) to Microsoft, Alphabet, Meta, X, Snapchat and TikTok on their handling of such...
The European Commission (EC) has opened formal proceedings to determine whether AliExpress breached requirements of the Digital Services Act. The probe will look at the online marketplace’s management and mitigation of risks, content moderation, handling of complaints, transparency of advertising, traceability of traders and accessibility...
Klarna has reportedly been fined 7.5 million Swedish crowns ($733,324) after a Swedish court ruled that the company violated the European Union’s (EU) General Data Protection Regulation (GDPR). Sweden’s Administrative Court of Appeal ruled that the provider of payment and shopping solutions gave its clients...
Fast-fashion giant Shein is reportedly facing scrutiny under the European Union’s Digital Services Act (DSA). Shein will soon be designated as a company that must comply with the DSA, Bloomberg reported Friday (March 8), citing unnamed sources. The eCommerce firm told Bloomberg: “We are in...
Swiss-listed investment services company Leonteq said Wednesday (March 6) it was unaware that French regulators told prosecutors of possible irregularities at the firm. The firm told Reuters this after being asked about a Wednesday report by French newspaper Les Echos that the French banking regulator ACPR had found...
The new Digital Markets Act (DMA) will reportedly focus first on app stores. European Union (EU) competition chief Margrethe Vestager told Bloomberg TV Tuesday (March 5) that her priority is that smaller app stores be given fair access to operating systems, Bloomberg reported Tuesday. It’s important...
The Federal Reserve and other American regulators could reportedly unveil new banking regulations this spring. That’s according to the New York Times (NYT) report Tuesday (March 5) on the response to last year’s banking crisis. A source told the news outlet that at least some policymakers want...
The United Kingdom’s Financial Conduct Authority will investigate the use of personal guarantees by lenders for small business loans. The investigation was sparked by a “super complaint” from the Federation of Small Businesses, spotlighting a growing concern over the potential barriers these requirements pose for small enterprises looking...
X, ByteDance and Booking.com could be added to the European Union’s “gatekeeper” list. The European Commission (EC) made that announcement Friday (March 1) after receiving notifications from the three companies, Reuters reported. The gatekeeper list is part of Europe’s Digital Markets Act (DMA) and applies to companies that have...