Meta Platforms Inc. (META)

Index:

Nasdaq 100

$ 504.04
   
  • Change Today:
    $-0.18
  • 52 Week High: $527.34
  • 52 Week Low: $283.25
  • Currency: US Dollars
  • Shares Issued: 2,211.00m
  • Volume: 800,508
  • Market Cap: $1,114,432m

UK watchdog to crackdown on social media companies and harmful content

By Caoimhe Toman

Date: Wednesday 12 Feb 2020

LONDON (ShareCast) - (Sharecast News) - UK watchdog Ofcom will crackdown on tech companies such as Facebook and Google in its mission against harmful content online.
The watchdog will ensure that social media platforms take an active role in taking down material deemed harmful for users.

The UK government had previously suggested setting up an independent, industry-funded regulator to enforce the new rules. It finally handed Ofcom the powers to impose a "duty of care" on technology giants like Facebook, Google and Twitter.

Prime Minister Boris Johnson's administration identified content depicting child abuse, terrorism and self-harm as key areas it would look to tackle with the regulatory overhaul.

"As the internet continues to grow and transform our lives it is essential that we get the balance right between a thriving, open and vibrant virtual world, and one in which users are protected from harm," Culture Secretary Nicky Morgan and Home Secretary Priti Patel said in a joint ministerial statement Wednesday.

"On the question of who will be taking on the role of the regulator, having listened to feedback from this consultation, we are minded to appoint Ofcom," Morgan and Patel said. "This would allow us to build on Ofcom's expertise, avoid fragmentation of the regulatory landscape and enable quick progress on this important issue."

In its white paper, the British government said it could potentially give regulators power to impose fines on large tech companies and block internet service providers.

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META Market Data

Currency US Dollars
Share Price $ 504.04
Change Today $ -0.18
% Change -0.04 %
52 Week High $527.34
52 Week Low $283.25
Volume 800,508
Shares Issued 2,211.00m
Market Cap $1,114,432m

What The Brokers Say

Strong Buy 25
Buy 24
Neutral 8
Sell 2
Strong Sell 0
Total 59
buy
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Trades for 01-Jul-2024

Time Volume / Share Price
09:34 100 @ $504.04
09:34 100 @ $504.04
09:34 100 @ $504.07
09:34 200 @ $503.91
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