It was long overdue, but it’s firmly on the way. The social media and big data revolutions are finally coming under a wave of new regulations, locally and globally.

Here, under the Electronic Media Regulations law, social media influencers plying their trade in the UAE have to apply for a trade licence which gives them the right to obtain the special e-media permit, according to the draft law. A long-overdue legislation designed to put some order in a growing industry where millions of dirhams change hands every year and which according to a study conducted by the Middle East Public Relations Association in 2016, had the highest year-on-year growth — by 12.4 per cent — in the region’s marketing communications industry.

And on the global stage, Mark Zuckerberg, the founder of Facebook, had a lot to answer to during his recent appearance in front of a committee of lawmakers at the European Parliament, without convincing anyone with his responses to accusations about the social media platform’s alleged breach of data protection laws. Zuckerberg apologised for how Facebook handled issues related to fake news, foreign interference in elections and the personal information of its users at the start of the meeting.

He then vowed to answer all questions in writing, once it became apparent during his audition that his responses and arguments were deemed as inadequate.

Facebook’s prior attempts to control the fake new phenomenon had fallen short of expectations. And soon after, the social media goliath unveiled a response to criticism about its decision to deputise fact-checkers with the task to decide if an article is credible. A rather weak response that would have no actual impact in the war against fake news.

Which of course brings us to the May deadline for compliance with the European Union’s General Data Protection Regulation. GDPR is to reshape the way organisations and social media platforms approach data privacy.

The biggest change to the regulatory landscape of data privacy comes within the extended jurisdiction of the GDPR, as it applies to all companies processing personal data of subjects residing in the EU, regardless of the company’s location. I for one, a UAE resident of 13 years, have been the recipient of dozens of such emails from companies in the UAE and abroad, asking me to accept their new terms should I want to continue receiving content from any of them.

While I haven’t reacted to any of these emails, I still feel that every effort to place some checks, controls, accountability and regulation in the ways digital information is vetted, communicated and distributed is essential.

After all, traditional media have been operating under the stringent scrutiny of national legislators and industry watchdogs for decades now. Defamation, libel and contempt laws were developed to protect individuals and organisations against unfounded or unchecked reports and to compensate those whose reputations or interests have been wrongly attacked.

Newspapers pay fines, while reporters and editors have to defend their cases in the courts when accused of publishing content found to be either unverified, defamatory or concocted to serve a specific cause or interest.

It is therefore essential for Facebook and other social media platforms operate under similar rules and guidelines, even though they still insist that they do no not consider themselves to be part of the media industry.

To date, social media companies claim they are strictly technology providers, which, as we all know of course, is fake news, because their main and only revenue stream comes from advertising attached to content. Which has historically been the business model of traditional and contemporary publishers and news organisations.

It seems that May 2018 will be the month that defined the social media and data analytics landscape in years to come, both home and away. Social media brands need to stick to what they know best — helping people connect, communicate and stay in touch.

If their proprietors still see their roles as the new media oligarchs, then the penalties of the regulations which will be shaped in order to control their actions need to be as severe as the potential harm they can cause.

George Kotsolios is Managing Director of international advocacy, branding and communications consultancy Leidar and author of “Back to the Future of Marketing — PRovolve or Perish”.