Amazon, Apple, Facebook & Alphabet to Face 6-10% Fines on New EU Rules

15 December 2020

    Amazon, Apple, Facebook and Alphabet’s Google may have to change their business practices in Europe or face fines between 6-10% under new draft EU rules. The power of the US tech giants is about to be curbed, as the European Commission’s frustration with antitrust cases against them rises.


    One set of rules called the Digital Markets Act calls for fines up to 10% of annual turnover for online gatekeepers found breaching the new rules. It additionally sets out a list of dos and don'ts, which will be classified according to criteria such as number of users, revenues and the number of markets in which they are active. The second set is known as the Digital Services Act, and will target online platforms with 45 million + users, tackling illegal content, misuse of platforms, election manipulation, and more.


    Additionally, companies will be required to show details of political advertising on their platforms and the parameters used by their algorithms to suggest and rank information.

    *The products advertised are only available to clients under Fondex Limited Seychelles (SDL No: SD037).


Cookies on Fondex

The Fondex website uses cookies to optimise user experience.

These cookies fall under the following categories: essential, functional and marketing cookies. Marketing cookies may also include third-party cookies.

Manage Preferences

You can customize your selection of which cookies you want to accept.

  • Essential

    These cookies are necessary for the website to function correctly and cannot be switched off.

  • Functional

    Functional cookies allow the website to remember users' preferences and the choices you make on the website such as username, region, and language.

  • Marketing

    These cookies are used to track visitors across our websites and show you more relevant ads. Marketing cookies also include third-party cookies from partners. For more information relating to data protection & collection please view our Privacy Policy and Cookie Disclosure.


The Company would like to inform you that it will terminate its operations under the "Fondex" brand by 30th of December 2022. If you wish to open a trading account, kindly visit