11:22 AM EDT, 03/20/2024 (MT Newswires) -- Meta Platforms' ( META ) Facebook, Alphabet's (GOOG, GOOGL) YouTube ( GOOG ), and X are among the major social-media platforms that will be subject to EU fines if they fail to tackle election disinformation, the Financial Times reported Wednesday, citing people familiar with the plans.

The guidelines will be adopted by the European Commission as soon as next week, the FT, citing the people.

Under the proposed requirements, online platforms that are unable to adequately tackle artificial intelligence-powered disinformation or deepfakes are likely to face fines of as much as 6% of global turnover, according to the report.

X is owned by Tesla (TSLA) Chief Executive Elon Musk.

The European Commission, Meta, and Alphabet did not immediately respond to requests for comment by MT Newswires. X could not be reached for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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