The United States Federal Trade Commission (FTC) said on Thursday (March 9) that it is expected to vote on March 16 on whether to send demands for information about deceptive advertising to eight social media and video streaming companies.
According to a statement released by the FTC, “the Commission will vote on whether to issue 6(b) Orders to eight social media and video streaming platforms concerning how they monitor and review deceptive advertising on their platforms.”
The FTC said that these orders would examine the ad review practices of the companies and if any measures were taken to detect, prevent and reduce deceptive advertising on their platforms. This would include advertising related to fraudulent healthcare products, financial scams, and fake goods, the commission added.
The social media and video streaming companies that would receive the demands have not been identified yet.
Also on March 16, the FTC would vote on issuing demands for information to five business credit reporting agencies concerning how they collect data and market their products.
“A business credit report can affect a small business in many ways, including potentially impacting the terms on which it can obtain goods, services, and equipment necessary for the operation of the business. This study will provide the public with information about an industry that has a significant impact on small businesses, but that currently has little publicly available data about it,” Thursday’s statement read.
The above developments come after the FTC asked Twitter to turn over some internal communications related to the owner Elon Musk and other detailed information about business decisions as part of an investigation into the social media giant.
The commission has sent over a dozen letters to Twitter and its lawyers since Musk became the owner in October last year. One of the requests was that the social media giant identified all journalists who were granted access to company records. The FTC also wants Musk to testify in connection with the investigation.
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