Tech companies put on notice as Australia passes world-first social media ban for under-16s [CNN]
Snap Inc. Class A (SNAP)
Last snap inc. class a earnings: 4/21 04:10 pm
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Source: CNN
tech companies on notice to tighten security before a cut-off date that's yet to be set. The Senate approved the social media ban late on Thursday, the last sitting day of the year, following months of intense public debate and a rushed parliamentary process that saw the bill introduced, debated and passed within a week. Under the new law, tech companies must take “reasonable steps” to prevent under-age users from accessing social media services or face fines of nearly 50 million Australian dollars ($32 million). It's the world's toughest response yet to a problem that has seen other countries impose restrictions but not hold companies accountable for breaches of a nationwide ban. The ban is expected to apply to Snapchat, TikTok, Facebook, Instagram, Reddit and X, but that list could expand. Prime Minister Anthony Albanese told legislators that “every serious government” was grappling with the impact of social media on young people, and the leaders he'd spoken to had applauded
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News
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SNAP
Earnings
- 10/29/24 - Beat
SNAP
Sec Filings
- 1/2/25 - Form 4
- 12/31/24 - Form 144
- 12/18/24 - Form 4
- SNAP's page on the SEC website