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.
2019-01-02 06:28:00 Wednesday ET
New York Fed CEO John Williams listens to sharp share price declines as part of the data-dependent interest rate policy. The Federal Reserve can respond to
2018-01-01 06:30:00 Monday ET
As former chairman of the British Financial Services Authority and former director of the London School of Economics, Howard Davies shares his ingenious ins
2019-05-30 16:44:00 Thursday ET
AYA Analytica finbuzz podcast channel on YouTube May 2019 In this podcast, we discuss several topical issues as of May 2019: (1) Our proprietary alp
2018-02-01 07:38:00 Thursday ET
U.S. senators urge the Trump administration with a bipartisan proposal to prevent the International Monetary Fund (IMF) from bailing out several countries t
2018-09-13 19:38:00 Thursday ET
Bill Gates shares with Mark Zuckerberg his prior personal experiences of testifying on behalf of Microsoft before U.S. Congress. Both drop out of Harvard to
2025-07-26 09:26:00 Saturday ET
Nir Eyal and Ryan Hoover explain why keystone habits lead us to purchase products, goods, and services in our lives. The Hooked Model can help shine new lig