European regulators turning up the heat on Facebook, other social sites to modify terms

Google’s recent $2.7 billion antitrust fine in Europe had a material impact on its quarterly earnings. The possibility of additional fines facing Google and its rivals raises the stakes in Europe for US internet companies seen to be in violation of European privacy or competition rules.

These are the two fronts that European regulators are addressing: privacy and competition. According to Reuters, regulators have rejected as insufficient recent efforts by Facebook, Google (Google+) and Twitter to bring their user terms into compliance with European regulations: