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EU Creates Social Media Working Group To Observe Data Harvesting

PYMNTS

European Union privacy watchdogs are responding to the Facebook data scandal by taking a closer look at the harvesting of personal data from social media sites for economic or political purposes. “A This is why we are creating a Social Media Working Group. President Donald Trump. ra Jourová explained.

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Big Tech Compliance Tracker: Apple To Pay $113M Over Alleged iPhone 'Throttling'; Officials: European Commission Needs To ‘Scale Up’ Regulation

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Here’s the latest news from the technology industry, which is coming under increasing scrutiny from regulators around the world. Xavier Becerra said in the settlement announcement that Apple “withheld information about their batteries that slowed down iPhone performance, all while passing it off as an update. California will get $24.6

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Controlling the Narrative: How Financial Services Institutions Can Stay Ahead of Reputational Risk

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But, as one of the most regulated and notoriously untrusted industries, the financial services industry is among the most vulnerable to being impacted by negative digital media, driving up its vulnerability to reputational risk.

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BIS Calls On Politicians To Coordinate Tech Regulation

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BIS said that the social media firm’s recent announcement that it aims to roll out its Libra digital currency and grow into payments has focused the minds of central bankers as well as regulators, Reuters reported. The Bank of England approaches Libra with an open mind but not an open door,” Carney said, per a Reuters report.

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EU Looks For Feedback In Regulating Tech Giants

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European Union (EU) regulators want feedback from users and digital service providers before they craft new rules that could manage giant tech firms Google, Facebook, Amazon and Uber, Reuters reported. Facebook Founder and CEO Mark Zuckerberg published “Charting the Way Forward: Online Content Regulation.”

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Tim Cook: Tech Regulations Are ‘Inevitable’

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Apple ’s CEO believes that new regulations for the tech industry are “inevitable.”. According to the Financial Times , Tim Cook said in an interview that “the free market is not working” and that the tech industry should embrace regulation. Generally speaking, I am not a big fan of regulation,” he said.

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Deep Dive: Why The Pandemic Is Pushing MENA Regulators To Upgrade Open Banking, Privacy Laws

PYMNTS

Consumers and businesses have been moving online in recent years, and regulators from the European Union to the Middle East and North Africa (MENA) region have worked to keep up with this migration. The pandemic is dramatically altering how merchants can transact, which data they can store and where they can store it, however.