According to the Vietnam News Agency correspondent in London, the UK Competition and Markets Authority (CMA) has fined Meta, formerly known as Facebook, £1.5 million for failing to notify CMA in advance of some of its key employees. to leave the company.
As is standard practice, the CMA will issue an initial enforcement order (IEO) at the start of an investigation into a completed merger.
This is to ensure that the companies involved continue to compete with each other as they were before the merger took place.
This process also helps prevent companies from further consolidation while the merger review process is underway.
CMA has imposed this type of order on Meta in June 2020, related to the company’s purchase of Giphy.
The order requires Meta to proactively notify the CMA of any “material changes” to the business, including the resignation of key employees as well as obtaining pre-employment consent. redistribution or redistribution of responsibilities.
Meta failed to fulfill both of these requirements when three key employees resigned and redeployed them. These three individuals are on the list of key employees that Meta previously submitted to the CMA.
On January 6, France’s data privacy watchdog (CNIL) also handed Facebook a fine of 60 million euros ($68 million) for privacy violations.
Dao Vu (Collected from Vietnamplus, People’s Public Security)