Technology Giants Likely to be Fined 10% of Turnover for violating EY rules

Technology Giants Likely to be Fined 10% of Turnover for violating EY rules

Prominent technology organizations that control access and data to platforms are most likely to be fined nearly 10% of their annual turnover. This is for violating the EU rules and regulations aimed at limiting their power.

The new Digital Markets Act will be announced by EU officials and is expected to impact Amazon, Facebook, Apple, and Google. This initiative would require the tech giants to share certain data with rivals as well as regulators.

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The guidelines are set out with a list of dos and don’ts for the digital gatekeepers – in order to ensure a level playing field for both users and rivals.

Source: Reuters

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