regulatory

The company reiterated its critical stance on the EU on Friday, saying its regulations were creating a worse experience for users and businesses unlike the UK's "more pro-growth and pro-innovation regulatory environment".

“The FCC’s regulatory authority over broadcast licenses was never intended to serve as a weapon to silence criticism or punish satirical commentary,” the senators wrote.

If we allow a regime in which political pressure, regulatory power and corporate compliance render most commentary off-limits, we concede that speech is licensed — and not free.

The new, generic version is still pending regulatory approval but it is hoped it will be available within 18 months.

The firm is something of a test case for the government's hopes to remove regulatory barriers to fast growing international companies.