Apple and Meta fined by the European Commission for breaching digital market rules

The European Commission announced today that US technology companies Apple and Meta Platforms have breached rules set out in the Digital Markets Act (DMA). Apple has been fined €500 million and Meta €200 million. These decisions represent the first fines under the new regulatory framework, which aims to ensure a level playing field for all players in EU digital markets and protect smaller competitors.

Fines for infringements of the Digital Markets Regulation

The Commission found that Apple had breached rules on developer access to apps outside the App Store and that Meta did not allow users to make choices about personalised ads without consenting to their personal data. These infringements are the first sanctions under the Digital Markets Act (DMA) to ensure a fair playing field for smaller competitors.

Apple has appealed the commission’s decision, calling the fine unfair and highlighting the negative impact on privacy. Meta, for its part, believes that the commission aims to disadvantage US firms in favour of Chinese and European competitors.

Impact on competition and consumers

The Commission pointed out that Apple restricts app developers from accessing alternative distribution channels, which prevents consumers from accessing cheaper and alternative offers. In the case of Meta, this was a ‘pay or consent’ model which does not allow sufficient choice for users regarding personal data.

Apple and Meta have 60 days to comply with the commission’s decision or face further penalties. The ruling sends a strong signal that digital giants will be subject to stricter rules in the EU that protect smaller competitors and consumers.

Source: CTK

author avatar
EditorialTeam
The Trader-Magazine.com EditorialTeam is a collective of certified financial analysts, active traders, and cryptocurrency experts. Our mission is to transform complex market data (forex, equities, indices) into accessible financial education. All content undergoes rigorous, multi-level fact-checking to ensure we deliver only accurate, objective information for your trading and investment decisions.

Top 10 financial instruments for 2022. What will their prospects be in 2023?

The year 2022 has brought countless surprises and obstacles...

Telegram scams: how they work and how to protect yourself

Telegram has become one of the most widely used...

Trump Saved TikTok from a Ban. The App in the U.S. Moves into American Hands

TikTok narrowly avoided a ban in the United States...

Climate Change Poses Major Risks to Financial Markets, Regulator Warns

WASHINGTON — A top financial regulator is opening a...

Golden Brokers Review

Golden Brokers Limited was founded in 2018, it is...

Canada Invests in Cohere, an Artificial Intelligence Company

Canada is investing CAD 1.6 billion (CZK 25 billion)...

Airbus’s operating profit fell by nine percent in the third quarter

European aircraft manufacturer Airbus saw its adjusted operating profit...

ETF Expense Ratio: What a 0.20% Fee Really Costs Over Time

An ETF expense ratio of 0.20% may look almost...

What Is a Recession? The Indicators That Matter Before and After One Starts

A recession can reshape an entire economy, affecting employment,...

Anthropic has filed for an IPO, which could be the largest stock offering to date

The American company Anthropic filed for an initial public...

Real Estate ETFs: A Practical Guide to REIT Exposure Through Funds

Real estate has long attracted investors looking for rental...

Musk reportedly invested a billion dollars in the Skydance media group

American billionaire Elon Musk has invested roughly one billion...
spot_img

spot_imgspot_img