Britain Regulator Fines Facebook $70 Million

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.

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

Which authority claimed that Facebook ignored multiple warnings?

• European Commission

• Federal Trade Commission

• Competition and Markets Authority

• World Trade Organization

What did Facebook fail to provide according to the CMA?

• Employee data

• Marketing strategies

• Financial reports

• Required information

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

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