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Meta could ban political advertising after EU strengthens rules on misinformation

By Nithya Bose in UK Business News, posted March 30, 2023

Meta executives fear they will have to introduce a company-wide ban on political advertising in Europe.

Concerns have been raised Facebook and Instagram would be unable to comply with upcoming EU laws targeting online campaigns.

EU legislators agreed to strengthen rules on targeted political advertising in February to prevent misinformation during elections.

The new rules force US tech companies to share more data on their targeted political advertisements, with fines of up to four percent of their global turnover for violations.

Meta executives are now worried the definition of political advertisements under EU plans would be extremely broad, which means refusing any paid-for political campaigns on the company's websites will be easier for the company.

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Last December, the European Commission told Facebook's parent Meta it was breaking EU antitrust regulations.

The tech giant was found stifling competition in markets for online classified advertising and exploiting its dominant position.

Meta didn't immediately respond to a request for comment.

Source: Reuters

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