Tech companies such as Facebook and Google could be regulated in the same way as the mobile phone and broadband industry, the head of media regulator Ofcom was expected to say on Tuesday.

Sharon White was due to outline a potential system regulating social media companies’ in-house complaints processes. Targets would be set for how quickly they removed offensive content and substantial fines issued if they failed to meet these standards. Such a system could be modelled on the existing British method of regulating telecoms companies.
https://www.theguardian.com/media/2018/sep/17/ofcom-to-push-for-regulation-of-social-media-platforms