SEC: According to the Wall Street Journal, the US Securities and Exchange Commission (SEC) is looking into how Amazon.com Inc handled employee disclosures about the company’s use of third-party sellers’ data to bolster its own private-label business.
According to the report, which cited people familiar with the subject, the federal regulator’s enforcement office has requested emails and communications from numerous senior executives of the e-commerce giant.
Amazon is yet to respond
A spokesman for Amazon did not immediately reply to a request for comment, and a spokesperson for the Securities and Exchange Commission declined to comment on the claim.
They have been accused of stealing product sales on its website and using its enormous database of internal data to promote its own products to the detriment of other merchants on numerous occasions. The charges have been refuted by the corporation.
In 2020, Amazon initiated an internal inquiry into whether its workers utilized seller data to boost its private-label business, following a series of media reports. According to the article, the corporation, however, refused to give the findings to a congressional committee that had previously scrutinized the e-commerce giant and other technology companies.