CMA Fines Facebook '50.5m For Enforcement Order Breach

• Published date: 22 October 2021
• Subject Matter: orporate/Commercial Law, Anti-trust/Competition Law, M&A/Private Equity, Compliance, Corporate and Company Law, Antitrust, EU Competition
• Law Firm: Preiskel & Co
• Author: Tim Cowen

The UK Competition and Markets Authority ("CMA") has today announced a '50.5 million fine against Facebook.

The fine is in relation to breach of an interim enforcement order ("IEO") imposed on the company at the start of the CMA's merger investigation into its purchase of Giphy, in June 2020.

The IEO required Facebook to give the CMA regular updates on its compliance with the IEO. The CMA considers that Facebook failed to comply with the update requirements in the IEO by refusing to report all the required information. Moreover, the CMA has indicated that it considers this was a deliberate failure...