Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

EU to probe TikTok over potential online breaches

(Sharecast News) - The European Union is investigating whether social media platform TikTok has breached online content rules around child safety and whether it encourages addictive behaviour. "Today we open an investigation into TikTok over suspected breach of transparency & obligations to protect minors: addictive design & screen time limits, rabbit hole effect, age verification, default privacy settings," said EU Internal Market Commissioner Thierry Breton.

The probe is taking place under the EU's Digital Services Act (DSA), which requires online platforms and search engines to take tougher measures to tackle illegal online content and risks to public security.

ByteDance, TikTok's owner, could face fines of up to 6% of its global turnover if the short video platform is found guilty of breaching the DSA rules.

The European Commission said the investigation would look at how TikTok's designs its algorithmic systems which may stimulate behavioural addictions and/or create so-called 'rabbit hole effects', where users are lured into continual viewing of its videos.

It will also look at whether TikTok has put in place appropriate and proportionate measures to ensure "a high level of privacy, safety and security for minors" and compliance with DSA obligations to provide a searchable and reliable repository for advertisements.

Reporting by Frank Prenesti for Sharecast.com

Share this article

Related Sharecast Articles

Goldman Sachs to scrap bonus cap for UK dealmakers
(Sharecast News) - Goldman Sachs will remove a cap on bonuses for its London-based staff, according to Sky News, with the firm now set to resume making multi-million-pound payouts to its top-performing traders and dealmakers.
Gazprom swings to $6.9bn loss as Europe sales plunge
(Sharecast News) - Russia's natural gas heavyweight Gazprom swung to huge loss in 2023 after sales to Europe dropped due to Western sanctions on Moscow.
London cabbies launch £250m legal action against Uber
(Sharecast News) - Uber Technologies is facing legal action on behalf of more than 10,500 London black cab drivers, it was confirmed on Thursday.
Peloton announces CEO departure; to cut 15% of workforce
(Sharecast News) - Peloton announced the departure of its chief executive on Thursday, alongside plans to cut around 15% of its workforce amid a restructuring programme aimed at reducing annual expenses by more than $200m.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.