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The European Parliament has today beefed-up protections for consumers in what will be the world’s first mandatory set of comprehensive rules on AI systems. This is a welcome development. Negotiations between the Parliament and national governments can now start, with a view to agreeing a final text in the second half of the year and the AI Act becoming EU law.
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BEUC welcomes the European Commission’s preliminary view that only the mandatory divestment by Google of part of its online advertising services would address concerns that Google abused its dominant position.
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Today BEUC and nine of its members filed a complaint with the European Commission and consumer authorities against Instagram, YouTube, TikTok and Twitter for facilitating the misleading promotion of crypto assets.
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To tackle the underperformance of financial markets for consumers, the European Commission has proposed a partial ban on inducements to financial advisors in its Retail Investment Strategy (RIS) published today, by preventing financial retailers from charging consumers for advice where none was given.