2019-08-12 07:30:00 Mon ET
technology antitrust competition bilateral trade free trade fair trade trade agreement trade surplus trade deficit multilateralism neoliberalism world trade organization regulation public utility current account compliance
Facebook reaches a $5 billion settlement with the Federal Trade Commission over Cambridge Analytica user privacy violations. The Federal Trade Commission (FTC) probes into prevalent user privacy practices across the social media ecosystem of Facebook, Messenger, Instagram, and WhatsApp etc. FTC commissioners break along party lines, 3-to-2, as the GOP majority votes line up to support the $5 billion settlement (whereas Democratic commissioners object this pact). This punitive fine is the single largest one against a tech titan by FTC to date, but some progressive lawmakers remain furious primarily due to the key controversial inadequacy of FTC curtailing future data leaks and breaches of the same sort of Cambridge Analytica.
The Cambridge Analytica data debacle may have compromised the personal data for about 87 million Facebook users. FTC requires Facebook to establish a new independent Privacy Committee of directors on the current corporate board. This committee would oversee all necessary audit functions to ensure strict compliance with key FTC consumer privacy rules and best practices. With 53% majority control rights, Facebook CEO Mark Zuckerberg may inadvertently be able to influence the nomination and appointment of independent directors on the Privacy Committee. This core settlement can cause ripple effects on the broader corporate governance structure.
If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.
2018-03-03 11:37:00 Saturday ET
President Xi seeks Chinese congressional approval and constitutional amendment for abolishing his term limits of strongman rule with more favorable trade de
2019-10-31 13:38:00 Thursday ET
AYA Analytica finbuzz podcast channel on YouTube October 2019 In this podcast, we discuss several topical issues as of October 2019: (1)
2019-01-05 11:39:00 Saturday ET
Reuters polls show that most Americans blame President Trump for the recent U.S. government shutdown. President Trump remains adamant about having to shut d
2019-06-25 10:34:00 Tuesday ET
Investing in stocks is the best way for people to become self-made millionaires. A recent Gallup poll indicates that only 37% of young Americans below the a
2018-05-03 07:34:00 Thursday ET
Sprint and T-Mobile propose a major merger in order to better compete with AT&T and Verizon. This mega merger is worth $26.5 billion and involves an all
2019-02-03 13:39:00 Sunday ET
It can be practical for the U.S. to impose the 2% wealth tax on the rich. Democratic Senator Elizabeth Warren proposes a 2% wealth tax on the richest Americ