The European Parliament, Council of EU and European Commission (EC) have decided to set up first-ever rules aimed at creating a fair, transparent and predictable business environment for businesses and traders when using online platforms.

The new Regulation will apply to some 7,000 online platforms across categories that include search, e-commerce, app stores, price comparison, and social media.

Highlights:

• Ban on unfair practices like suspension of seller's account without clear reasons, etc.
• Plain and intelligible terms and advance notice for changes. 
• Ensure greater transparency by disclosing main parameters for ranking goods and services.
• Mandatory disclosure for various business practices like disclosing any advantage given to their own products over others, collection and use of any data, etc.
• New avenues for dispute resolution by setting internal complaint-handling system.
• Business associations can take platforms to Court to stop any non-compliance with Rules.

For more: http://europa.eu/rapid/press-release_IP-19-1168_en.htm