Temu's low cost marketplace faces formal probe in EU over raft of DSA compliance concerns [TechCrunch]
PDD Holdings Inc. - American Depositary Shares (PDD)
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Source: TechCrunch
Enforcers of the online governance framework will now dial up their oversight of Temu. The bloc's suspicions are focused on concerns about the sale of illegal products, which may include things like toys and cosmetics that could potential harm consumers by not complying with EU standards; addictive design related to how the marketplace seeks to gamify shoppers' engagement; the transparency of Temu's recommender systems, including the lack of a non-profiling-based option for users; and issues with obligations related to researcher access to public data. If the Commission confirms any breaches of the DSA Temu's parent, Pinduoduo, could face fines of up to 6% of its annual global turnover. The EU only designated Temu as subject to the DSA's strictest set of rules — which apply transparency requirements on larger platforms as well a requiring they assess and mitigate systemic risks — back in May , with compliance for those rules expected from this month, so the bloc's enforcers are m
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PDD
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- 11/21/24 - Beat
PDD
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- 11/21/24 - Form 6-K
- 10/22/24 - Form SC
- 10/21/24 - Form SC
- PDD's page on the SEC website