CMA Fines Facebook '50.5m For Enforcement Order Breach

Published date22 October 2021
Subject Matterorporate/Commercial Law, Anti-trust/Competition Law, M&A/Private Equity, Compliance, Corporate and Company Law, Antitrust, EU Competition
Law FirmPreiskel & Co
AuthorTim 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...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT