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Big Tech Compliance Tracker: EU Prepares To Propose New Big Tech Regulations; Turkey Fines Big Tech Platforms $1.18M

PYMNTS

million) penalty for not following a new social media law, Reuters reported, citing Omer Fatih Sayan, the deputy transport and infrastructure minister. Foreign companies operating in Turkey that reach more than 1 million people daily have been told about some of the rules they need to comply with,” Sayan said on social media.

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B2B Venture Capital: Corporate Social Media, Marijuana Procurement, and Big Data

PYMNTS

This week, the two countries were the only markets that landed on the B2B venture capital board, with funding landing at SaaS, Big Data and procurement startups across a range of industries, from corporate social media management to marijuana procurement. PYMNTS breaks down the $24 million in venture capital raised.

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Facebook Could Lose Accreditation Of Media Rating Council

PYMNTS

advertisers probably won’t “like” its subpar rating from a media industry watchdog. The Media Rating Council (MRC) review found that the California-based social media giant has failed to address advertisers’ concerns arising from an Ernst & Young audit over how it measures and reports data about video advertisements. .

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Facebook's Libra Hires HSBC Veteran As Managing Director

PYMNTS

The Libra Association has named James Emmett as managing director of Libra Networks, the association’s operating company subsidiary. Emmett previously was the top executive of HSBC Bank plc and Europe, where he was responsible for HSBC's UK Wholesale Bank and operations across Continental Europe, Sub-Saharan Africa and Bermuda.

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California enforcement updates and privacy tools highlight regulatory scrutiny of right to opt out

CFPB Monitor

At the press conference, California Attorney General Rob Bonta summarized the first year of enforcement of the CCPA and provided specific examples of actions businesses have taken to rectify alleged violations following receipt of a notice of noncompliance. This CPRA provision becomes operative in January 2023. Enforcement updates.

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Big Tech Compliance Tracker: Facebook Disables Some Instagram, Messenger Functions In Europe; Amazon Delays Merchant Fulfillment Fee Increases

PYMNTS

He also noted that Amazon has invested in excess of $10 billion in “COVID-19 related operating costs” since the pandemic began. "We are doing this because we want to provide stability and support for you during what will likely remain a challenging winter as vaccine distribution gets underway," Wilke wrote in the letter.

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Big Tech Compliance Tracker: EU Unveils Drafts Of New Big Tech Regs; Facebook To Move UK Users To California Privacy Agreement Amid Brexit

PYMNTS

The European Union ’s governing European Commission published drafts of new rules for digital services that would cover social media, digital marketplaces and other platforms. Facebook to Migrate UK Users to California Privacy Agreement Due to Brexit. EU Unveils First Drafts of Digital Markets and Digital Services Acts.