05:16 AM EDT, 06/17/2024 (MT Newswires) -- Meta Platforms ( META ) is facing a potential fine over its alleged violation of the European Union's Digital Markets Act or DMA, Reuters reported Friday, citing unnamed sources familiar with the matter.

According to the report, sources said Meta's violation relates to its recent introduction of a subscription fee for an ad-free version of its Facebook and Instagram social media platforms.

The European Commission launched an investigation against Meta and Apple ( AAPL ) in March over their DMA compliance and sources told Reuters that preliminary findings are set to be released before the summer break in August.

Apple ( AAPL ), Meta Platforms ( META ), and the European Commission did not immediately respond to MT Newswires' requests 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.)

Price: 503.22, Change: -0.94, Percent Change: -0.19