Britain Regulator Fines Facebook $70 Million

Britain Regulator Fines Facebook $70 Million

Assessment

Interactive Video

Business, Social Studies

9th - 12th Grade

Hard

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Britain's competition regulator fined Facebook $70 million for not complying with an order during its acquisition of Giphy. The Competition and Markets Authority (CMA) stated that Facebook ignored multiple warnings and failed to provide necessary information. This penalty serves as a reminder that no company is above the law. Facebook responded by stating they will review the CMA's decision and consider their options.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the reason for the $70 million fine imposed on Facebook by the UK's competition regulator?

For breaching an order during the Giphy acquisition

For not acquiring Giphy

For not launching a new platform

For overpricing GIFs

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which authority claimed that Facebook ignored multiple warnings?

European Commission

Federal Trade Commission

Competition and Markets Authority

World Trade Organization

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What did Facebook fail to provide according to the CMA?

Employee data

Marketing strategies

Financial reports

Required information

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the penalty imposed on Facebook signify?

That companies can ignore laws

That no company is above the law

That fines are optional

That laws are flexible

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How did Facebook respond to the CMA's decision?

By ignoring it

By accepting the fine

By stating they will review the decision

By filing a lawsuit