Compliance Institute survey reveals concern around role of Coimisiún na Meán
One in three organisations in Ireland’s financial services sector expect to encounter challenges when meeting digital content rules laid down by the new media regulator, Coimisiún na Meán. This is according to the results of a poll of 150 professionals by the Compliance Institute.
One of the remits of the media watchdog, which has been in place since March 2023, is to regulate digital content so that adults and children are not harmed by online content or behaviour.
The survey also asked compliance professionals to specify the biggest challenges posed to their organisation by the EU’s flagship data privacy and protection law, GDPR.
Seven years after this law came into force, 41% of respondents in Ireland’s financial services sector cited the ever-changing nature of guidelines in this area as the biggest challenge they face.
The survey revealed that 6% financial services firms were expecting the rules arising from the digital content regulation remit of the watchdog to create significant compliance challenges for their organisation; 27% foresaw manageable compliance challenges for their firm as a result of the digital content regulation remit of Coimisiún na Meán; 35% expected the Coimisiún’s digital content regulation remit to have no impact on its organisation; and 31% were not familiar with Coimisiún na Meán’s role.
Michael Kavanagh, CEO of the Compliance Institute, said: “In such a digital-centric world, and one in which technology is so far reaching and often pervasive, it’s important that adults and children can go online without fear of being harmed by the content or behaviour they come across. The Coimisiún has a hugely important role to play in this regard and its recent crackdown on social media giants, with those organisations now required to put measures in place to protect children from harmful content online, is just one of a number of crucial steps which the Coimisiún as a regulator of digital content.
“It’s important that online content is regulated so that it doesn’t incite hatred, disseminate ‘fake news’ or misinformation, discriminate against certain sectors, facilitate criminals, be used to perpetuate child exploitation or abuse, or to prey on the vulnerable. All organisations have a part to play in ensuring they know, and abide by, the rules in this regard. The evolving nature and global reach of digital media and the sheer volume of online content out there will undoubtedly present challenges for organisations when meeting digital contents rules. Evolving regulations in this area and the complexity of various laws could also prove challenging for firms.
“It is interesting that more than two years since it has been up and running, a significant portion of compliance professionals are not familiar with Coimisiún na Meán’s role. This may indicate a need for increased awareness of the new media regulator – and maybe even of the vices and dangers out there online that it is seeking to police.”
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