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4/17, 4:17 PM (Source: TeleTrader)
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European Parliament pushes for more online transparency

The European Parliament on Wednesday adopted new rules dedicated to improving the fairness and transparency of online platforms, which is widely seen as another measure for curtailing the powers of the United States-based companies. Online platforms, such as Amazon Inc. e-retail, Google's Play Store, online hotel booking websites, will be obliged to offer cleared terms of services and increase the transparency of their business.

The text additionally compels internet companies to explain in detail how the goods or services offered are ranked internally, information which these firms keep classified in order to stop manipulations by users. Additionally, e-commerce platforms will have to provide more information to the public on what data from the consumers is collected in this process.

This regulation still needs to be approved by the Council of the European Union, after which it will take 12 months to take effect. This week, the European Council adopted a controversial copyright reform, known as Article 13, which was also heavily opposed by the US-based tech giants.

Breaking the News / MA