The social networking firm Facebook Inc (NASDAQ:FB) is under the lenses everywhere in Europe on privacy concerns. Its executives are not happy about the recent probe on privacy matters.
According to an opinion published in the Financial Times, Chief Policy Official at Facebook, Europe Richard Allan, expressed unhappiness about the recent probes being launched on privacy concerns. It will not only affect the facebook but also the innovations and the jobs as well.
Complying with the new law in the EU will increase the spending of the social media giant. People would soon realize the launch of new features at a slow pace.
Facebook is facing the brunt of investigations in Ireland on behalf of the EU members. According to Allan, the company is facing wide-ranging privacy audits from the EU because its headquarters are located in Ireland.
The company is also facing individual probes in the recent months from nations like Germany, Spain, Belgium, France and the Netherlands on its privacy policies.
Facebook is of the view that those nations have no right for the probe. But the officials are conducting privacy audits and say they have the right to do so.
According to the EU, the new companies are struggling to cope with the complex rules as they venture into each of the new countries.
The European Commission officials are likely to introduce new set of rules next week for the Digital Market. The EU will frame a new set of rules for the telecommunications and the privacy matters as well across the Europe.
But Facebook is facing the brunt. It will take several months for the review and approval of the DSM proposals.
Meanwhile, individual nations are also tightening their grip on the social media giant and other tech firms as well.
Allan Issues a Warning to Reconsider Decisions
Allan issued a warning to those nations to review their decisions on privacy audits to prevent loss to their economies. He further said how hard it is to raise a company. If every nation starts imposing its set of rules, the new startups will get grounded even before they rise.
