Self-regulation is not enough to fight the tide of fake news and disinformation online, according to an initial assessment by the European Commission of the industry code adopted by social media companies. The code has helped put the spotlight on the problem and encourage internet companies to do more, but improved reporting on their efforts and greater cooperation with the advertising sector is needed, the report found. The Commission plans to introduce regulatory initiatives on the matter before the end of 2020.
The report looked at implementation of the Code of Practice on Disinformation in its first 12 months of operation, to the end of July. It found positive outcomes, such as increased accountability and public scrutiny for online platforms. However, the quality of the information disclosed by the code's signatories is still insufficient and shortcomings limit the effectiveness of the code, the Commission said.
Vera Jourova, the Commission Vice President for Values and Transparency, said "the time has come to go beyond self-regulatory measures. Europe is best placed to lead the way and propose instruments for more resilient and fair democracy in an increasingly digital world.”
Building on work in recent months to combat misinformation on the coronavirus as well as addressing the shortcomings identified in assessment of the Code, the Commission plans to deliver a new proposal with two complementary initiatives by the end of the year. These are a 'European Democracy Action' plan and the Digital Services Act package. The aims is to further strengthen the EU's work to counter disinformation and to adapt to evolving threats and manipulations, support free and independent media, better regulate the digital informational space and upgrade the ground-rules for all internet services. A public consultation on the former is ongoing until 15 September while the consultation on the latter ended earlier this week.
