The British government is appointing a new independent tech regulator who will be given powers to punish companies who don’t properly protect users. *cough* Facebook and Google *cough*
Facebook would receive a penalty up to $2.2 billion. Google would be $5.4 billion.
Rolling out next month…
The policy will enforce a regulator to make determinations about what constitutes harmful content and fine firms who fail to take action in removing inappropriate posts. The UK aims to develop a sanctions regime similar to the Information Commissioner’s Office (ICO) powers. Ministers are still deciding if they want to set up an entirely new regulator or simply use Ofcom, UK’s television content regulator.
Their hope is to set an example for other countries and governments to follow their lead.
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