11:08 AM EDT, 04/29/2024 (MT Newswires) -- (Updates with Meta statement in the last paragraph.)

Meta Platforms' ( META ) Facebook and Instagram are expected to be investigated by the European Commission over concerns these social media platforms are not doing enough to counter disinformation from Russia and other countries, the Financial Times reported Monday.

EU regulators will look into how Meta's social media platforms are dealing with attempts to influence European elections, although it is not expected to mention Russia by name, the report said, citing two people familiar with the matter. Regulators suspect the platform's moderating is insufficient in preventing the widespread dissemination of political advertising, the report added.

"We have a well-established process for identifying and mitigating risks on our platforms," a Meta spokesperson told MT Newswires. "We look forward to continuing our cooperation with the European Commission and providing them with further details of this work."

(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: 436.96, Change: -6.33, Percent Change: -1.43