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Britain fines Facebook $69.4 million

Britain-ALSHARQIYA October 22: Britain has imposed a fine of 50.5 million pounds ($69.4 million) on Facebook for violating the rules as part of an investigation into its purchase of the popular GIF search engine.
The UK Competition and Markets Authority said Facebook had failed to provide the information requested during the investigation.
It added that it had issued "multiple warnings to Facebook, and considers that Facebook's failure to comply was intentional."
"This is the first time that a company has been exposed to violating the so-called preliminary execution order by willfully refusing to provide requested information," she explained.
The agency charged the company 50 million pounds for violating the order, and another 500,000 to change the chief compliance officer twice without approval.
"We (Facebook) warned us that its refusal to provide us with critical information was in violation of the order, but even after losing its appeal in two separate courts, Facebook continued to ignore its legal obligations," Joel Bamford, senior director of mergers at the UK Competition and Markets Authority, said in a statement. .
 "This should serve as a warning to any company that believes they are above the law," he added.
For its part, Facebook said it would "review the decision and consider its options."
"We strongly disagree with the unfair decision taken by the Competition and Markets Authority to penalize Facebook for its best compliance approach, which was ultimately agreed to by the CMA itself," she added.
The authority launched an investigation in June last year into the acquisition of the GIF-sharing platform "Gifi" amid concerns about "dramatically reducing competition".

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