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Facebook fined $70 million for 'deliberate' failure to comply with UK regulator
CNN
The UK competition regulator has slapped Facebook with a $70 million fine for repeatedly ignoring warnings and deliberately breaking its rules.
The Competition and Markets Authority (CMA) said in a statement Wednesday that Facebook had "consciously" refused to report all the required information during an investigation of the tech giant's acquisition of online database Giphy.
The regulator issued an "initial enforcement order" related to the takeover in June 2020, requiring the companies to compete against each other as usual and halt any integration efforts during the investigation.
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