UK competition watchdog fines Facebook's parent company Meta for second time
Feb 04, 2022
London [UK], February 4 (ANI/Sputnik): The UK Competition and Market Authority (CMA) on Friday announced that it has fined Facebook's parent company Meta £1.5 million ($2 million) for breaching an initial enforcement order from the watchdog.
This order required Meta to actively inform the competition authority of any 'material changes' to the business, including resignations of key staff, and then seek prior consent before rehiring or redistributing responsibilities.
"Meta failed to alert us in advance to important changes in their staff, despite knowing they were legally required to do so. This is not the first time this has happened," CMA Senior Director of Mergers Joel Bamford, said in a statement.
In October, the UK watchdog fined the US multinational technology company £50.5 million ($69.5 million) for failing to provide enough important information to the competition regulator investigating its takeover of GIF sharing platform Giphy. (ANI/Sputnik)
