The SEC, the US financial markets regulator, is exploring the business data management practices of online retailer Amazon and the potential use of it to create its own products. Wall Street Magazine.
Asked by the AFP, the Securities and Exchange Commission and Amazon did not respond Wednesday. In April 2020, the Wall Street Journal reported that based on the testimony of more than twenty former Amazon employees, the e-commerce company had used sellers’ data on its site without authorization. The financial daily reported that Amazon used this to create its own products based on sales trends made by third parties on its site.
2019 first survey
The Judiciary Committee of the House of Representatives has been investigating Amazon’s practices since 2019, and in this context, several of the group’s leaders, including the then CEO and founder of the group, Jeff Bezos, in 2020. In early March, members of the commission asked Justice Minister Merrick Garland to launch its own investigation into whether the Seattle (Washington) company was blocking the work of lawmakers and violating the law. They allege that a company executive lied during a 2019 affidavit claiming that Amazon did not use any data from third-party vendors. According to the commission, Amazon has denied the allegations and despite repeated requests from elected officials, it has not provided any supporting documents.
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