European Commission Sends Request For Information To Apple And Google Under The Digital Services Act
Portfolio Pulse from Benzinga Newsdesk
The European Commission has requested information from Apple and Google under the Digital Services Act (DSA) to assess their compliance with online marketplace rules and transparency in their App Store and Google Play services. The companies must respond by January 15, 2024, and failure to provide accurate information could result in fines or periodic penalty payments. This action follows their designation as Very Large Online Platforms, which mandates them to mitigate systemic risks and protect users.
December 14, 2023 | 2:27 pm
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Apple has been requested by the EU Commission to provide information on its App Store's compliance with the DSA. Failure to comply could lead to fines, affecting the company's financials and reputation.
The request for information and potential for fines could lead to increased regulatory scrutiny and possible financial penalties for Apple, which may negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Google is under the EU Commission's scrutiny to provide details on Google Play's adherence to the DSA. Non-compliance could result in financial penalties, affecting Google's financial position and market perception.
Similar to Apple, Google's requirement to submit information and the risk of fines for non-compliance could lead to regulatory challenges and financial repercussions, potentially harming the stock's performance in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80