India Might Create Social Media Regulatory Physique
A parliamentary body in India says social media platforms like Facebook and Twitter should be viewed as publishers and given their own regulator.
As reported by Bloomberg, the panel made that recommendation when it was reviewing a 2019 data protection act that aims to protect user privacy and put more controls in place over how companies like Google and Amazon collect, store and process data.
Sources told Bloomberg that the panel wants stricter rules because current legislation hasn’t gone far enough and the existing provisions in data protection law are too broad.
The legislation could also hold social media companies responsible for content posted by unverified accounts. The Indian parliament should receive recommendations from the panel on Monday (November 29), Bloomberg said.
If the recommendations are adopted, it could have a serious impact on the operations of private and public companies in India, the largest social media market in the world. It would also reflect other legislation being considered around the world.
As PYMNTS reported in October, the Consumer Financial Protection Bureau has started surveying Facebook, Amazon and Google about how they collect, use and store user data.
Continue reading: CFPB is set to survey tech giants about how they handle financial data
And over the weekend, the European Parliament’s Committee on Internal Market and Consumer Protection (IMCO) voted to pass the Digital Markets Act (DMA), which creates stricter rules for social media platforms.
These new regulations require social media companies – or any platform with more than 45 end users per month – to be more accountable for unfair business practices. The law also restricts data collection from minors and prohibits the use of data or commercial purposes.
See: Digital Market Act removes hurdle and would place restrictions on social media platforms
But in India, social media giants have “safe haven” status, protected from penalties related to user-generated content, as long as they adhere to policies like setting up offices in India, appointing compliance officers, and complying with Follow government requests to remove content deemed harmful.
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