Facebook Fined In The U.K. For Continued Disregard Of Legal Obligations - Quick Facts

The Competition and Markets Authority in the U.K. has imposed a fine of 50.5 million pounds on Facebook for breaching an order imposed by the CMA during its investigation into Facebook's purchase of Giphy. GIPHY, a provider of visual expression and creation, joined Facebook in May 2020 as part of their Instagram team.

The CMA imposed an initial enforcement order on Facebook in June 2020 in relation to the purchase of Giphy. Despite repeated warnings from the CMA, Facebook significantly limited the scope of the regular updates outlining its compliance with the IEO. The CMA noted that this is the first time a company has been found to have breached an IEO by consciously refusing to report all the required information.

The CMA has issued a fine of 50 million pounds for the major breach. Also, Facebook was fined 500 thousand pounds for changing its Chief Compliance Officer on two separate occasions without seeking consent.

"We warned Facebook that its refusal to provide us with important information was a breach of the order but, even after losing its appeal in two separate courts, Facebook continued to disregard its legal obligations," Joel Bamford, Senior Director of Mergers at the CMA, stated.

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