financetom
Business
financetom
/
Business
/
Update: PDD's Temu, Online Site Shein Asked to Submit Information on Digital Services Act Compliance
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Update: PDD's Temu, Online Site Shein Asked to Submit Information on Digital Services Act Compliance
Jul 2, 2024 7:34 AM

10:17 AM EDT, 07/02/2024 (MT Newswires) -- (Updates with Temu's response in the fourth paragraph.)

PDD Holdings' ( PDD ) Temu and private online marketplace Shein were asked by the European Commission to provide more information on the measures they have taken to comply with the Digital Services Act, the Commission said Friday.

The Commission, which received a complaint against Temu and Shein from consumer organizations, said it sent formal requests for information regarding the "notice and action mechanism," protection of minors, transparency of recommender systems, traceability of traders, compliance by design, and online interfaces.

Temu and Shein were given until July 12 to provide the information, the Commission said, adding it may initiate proceedings depending on the companies' replies.

"We are cooperating fully with the EU," a Temu spokesperson told MT Newswires in an emailed statement. "We'd also like to reiterate that we are fully committed to complying with all applicable laws and regulations in the markets where we operate."

Price: 131.75, Change: -1.23, Percent Change: -0.92

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Microsoft blames Delta for its struggle to recover from global cyber outage
Microsoft blames Delta for its struggle to recover from global cyber outage
Aug 6, 2024
CHICAGO (Reuters) - Microsoft ( MSFT ) blamed Delta Air Lines ( DAL ) on Tuesday for its dayslong struggle to recover from a global cyber outage that led it to cancel more than 6,000 flights. The flight disruptions stranded hundreds of thousands of travelers and are estimated to cost the Atlanta-based airline $500 million. Last week, Delta's CEO Ed...
--Susquehanna Adjusts Wynn Resorts' PT to $93 From $115, Maintains Positive Rating
--Susquehanna Adjusts Wynn Resorts' PT to $93 From $115, Maintains Positive Rating
Aug 6, 2024
12:46 PM EDT, 08/06/2024 (MT Newswires) -- Price: 76.07, Change: +2.52, Percent Change: +3.42 ...
Frightened Alaska Air crew feared passengers were lost in Jan. 5 mid-air panel blowout
Frightened Alaska Air crew feared passengers were lost in Jan. 5 mid-air panel blowout
Aug 6, 2024
* Flight attendants feared passengers were sucked out after panel blowout at 16,000 feet * NTSB reviewing 737 manufacturing, FAA oversight to prevent future incidents * Jan. 5 incident caused financial and reputational crisis for Boeing ( BA ) By Allison Lampert Aug 6 (Reuters) - Alaska Airlines flight attendants feared passengers had been sucked out of the plane in...
WisdomTree Unit Gets SEC Wells Notice
WisdomTree Unit Gets SEC Wells Notice
Aug 6, 2024
12:50 PM EDT, 08/06/2024 (MT Newswires) -- WisdomTree ( WT ) said Tuesday that its unit WisdomTree Asset Management received a Wells Notice from the SEC for alleged violations related to three exchange-traded series of WisdomTree Trust. WisdomTree Asset Management managed three exchange-traded series of WisdomTree Trust that pursued environmental, social and governance-focused investment strategies. The board of trustees approved...
Copyright 2023-2026 - www.financetom.com All Rights Reserved