Lol 5 million is pocket change for meta, wtf are these courts doing?
I am willing to pay 0.01$ out of my pocket to not comply with some regulations in my country. I can even pay annually
It’s an intentional slap on the wrist because they don’t actually want to fine them, they just want them to change their behaviour. The general MO of European courts is to get people to comply, not to punish non compliance. There’s a subtle difference. If Meta change their tact in the next two weeks then they got what they wanted. If they don’t, fine increases and they’ll escalate responses.
Though, practically speaking, America has been threatening to make the trade war they started much worse for the EU if it tried to enforce things like DSA and GDPR fines. We'll have to see how enforceable these laws really are.
> 5.3. orders Meta Ireland to pay BoE a penalty of €100,000.00 for each day or part thereof that it does not, or does not fully, comply with the orders under 5.1 and/or 5.2, up to a maximum total of €5,000,000.00.
Original:
> 5.3. veroordeelt Meta Ierland om aan BoE een dangsom te betalen van € 100.000.00 oor iedere dag of gedeelte daarvan dat zij niet of niet volledig aan de beelen onder 5.1 en/of 5.2 oldoet. tot een maximum an in totaal € 5.000.000.00 is bereikt.
It seems like usually they start with smaller fines, and if the offense is repeated, they ramp it up. Kind of makes sense.
If Meta can provide a reasonable time frame for compliance, the judge may also choose to let the existing limit on reparations stand rather than increase it, despite them not complying the day they hit the 5 million euro mark.
It's all up to what the judge deems reasonable to make Meta comply with the court's orders.
Perhaps this case doesn't warrant it, but generally speaking I'd like to see allocating jailtime across the top shareholders as an option.
If my dog bites somebody, I'm on the hook, it should be no different with a company.
~Robert Reich
Shareholders don’t control day to day operations of a company. Top shareholders rarely have enough shares by themselves to control anything about the company. Remember the VW emissions cheating scandal where people were jailed? It would be completely unreasonable to jail top shareholders because some manager somewhere concocted a scheme to cheat on emissions.
Jailing top shareholders for decisions made by the company would be a weird misdirected use of the justice system. If someone is to be jailed, it should be people responsible for the decision.
That said, I can’t believe anyone would be watching the news about the current U.S. administration threatening companies with spurious and often nonsensical demands and think that we should be normalizing the process of letting the government jail individuals if the company does something the government doesn’t like that would have previously been a small fine. You can’t think of any way this power might be abused by elected officials?
If the cheating had gone unnoticed, the shareholders would've been rewarded, so they should bear some risk whether or not they sold after the crime was committed.
As it is, we've got incentives set up to encourage investment in bad behavior so long as you get out before your people get caught.
As for the government abusing the justice system... What rules would create justice is sort of orthogonal to the circumstances under which the rules are broken.
It is obviously known how to get corporations to comply, and the mechanism is used when governments really want to. In this case and others like it, probably they don't care enough.