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Uncertainty as Meta awaits new rules
Data protection & privacyGDPR & privacy law
Rules further governing the transfer of data are in development on both sides of the Atlantic, with Meta’s position dependent on evolving interpretations of existing laws, the outcomes of ongoing negotiations, and new draft laws – here’s what to know.
Why it matters
While it appears to be more of the deluge of bad news for the social media and messaging firm, the overblown reports that Meta was considering shutting down European operations reflect the many-sided issue that is the governance of such a large platform. It is by no means game over; it’s more that both the company and policymaking have matured and the game is simply changing.
In an SEC filing, Meta explains – as it is required by law to do – some of the potential risks that it faces to the business, however small.
The EU-US Privacy Shield, which is a mechanism that allows the safe passage of data between the two territories based on shared values, remains under negotiation though both sides want to see continued data transfer.
Reports suggest an emerging approach would hand Europeans the right to contest possible misuses of data by US National Security apparatus, which was a reason the EU Court of Justice struck down the previous Privacy Shield agreement in the summer of 2020.
Effectively, both sides need this to work. In the meantime, companies have been using SCCs (standard contractual clauses) in their terms of service that allow data processing to continue, even if these are also in question after the Irish Data Protection Commission.
A decision is expected soon, even if it’s possible EU citizens will end up with stronger rights over their data in the US than Americans.
Regulating the metaverse
Elsewhere, while the metaverse is the purported next step for Meta, the company also explained to investors the risks of potential future laws such as those under discussion in the US, UK, and much of the rest of the world. This digs into the strange and difficult position of betting the future on something that does not yet exist, at a time in which policymakers are working faster and faster to keep up with tech’s pace.
In Europe, for instance, the proposed digital markets and services acts could place significant restrictions on combining data across services and even down to product design. Bottom line is that it anticipates potential compliance costs rising should these laws come into force.
Sourced from City AM, SEC, The Register, FT. [Image: Pexels]
多样性、公平性和包容性需要发挥作用。在客户和机构层面，这一领域仍然存在挑战，机构继续缺乏内部多样性，而客户则在努力实现 DEI 议程。
来自伟门汤普森中国的 Joyce Ling、Leo Burnett Chicago 的 Aki Spicer、MediaCom 的 Anush Prabhu、We Are Social 的 James Honda-Pinder、22feet Tribal Worldwide 的 Mehak Jaini、The Secret Little Agency 的 Eunice Tan 等领先战略家的专家评论和 OLIVER Agency 的 Nick Myers，可以在这里阅读。