Q3 Earnings Alert! Plan early for this week’s stock reports with all key data in 1 placeSee list

Meta to give EU users more options for data handling

Published 30/03/2023, 05:54
© Reuters. FILE PHOTO: FILE PHOTO: Meta Platforms Inc's logo is seen on a smartphone in this illustration picture taken October 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
META
-
M1TA34
-

(Reuters) -Meta Platforms Inc said on Thursday it would change the legal basis on how Facebook (NASDAQ:META) and Instagram use personal data to target advertising in the European Union, after the bloc's privacy regulator fined it for alleged breaches in January.

The move, Meta said, will give EU users more options around how their data is handled and is not expected to impact the company's lucrative targeted-advertising business in the region.

The social media giant was fined 390 million euros ($425.72 million) earlier this year by Ireland's Data Privacy Commissioner and told it cannot use the so-called "contract" legal basis to send users ads based on their online activity.

Meta, which had then said it intended to appeal both the substance of the rulings and the fines imposed, is now going to the use "Legitimate Interests" basis instead of "Contractual Necessity" to comply with the EU's General Data Protection Regulation (GDPR).

The contractual basis of the GDPR allows companies to collect data when the information is necessary to execute a contract, while "Legitimate Interests" allows companies to use personal data in a way that individuals can reasonably expect.

"We believe that our previous approach was compliant under GDPR, and our appeal on both the substance of the rulings and the fines continues," Meta said in a blog post.

The Wall Street Journal reported earlier on Thursday that Meta was planning to allow European users of Facebook and Instagram to opt out of certain highly personalized ads, and offer a version of its services that would only target them with ads based on broad categories.

Separately, the Financial Times reported that Meta was considering an all-out ban on political ads in Europe on concerns that Facebook and Instagram will be unable to comply with the new EU regulations targeting online campaigns.

© Reuters. FILE PHOTO: FILE PHOTO: Meta Platforms Inc's logo is seen on a smartphone in this illustration picture taken October 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

Meta did not respond to Reuters requests for comment on potential changes to political ads.

($1 = 0.9161 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.