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.
2018-10-23 12:36:00 Tuesday ET

Former Fed Chair Paul Volcker releases his memoir, talks about American public governance, and worries about plutocracy in America. Volcker suggests that pu
2018-07-19 18:38:00 Thursday ET

Goldman Sachs chief economist Jan Hatzius proposes designing a new Financial Conditions Index (FCI) to be a weighted-average of interest rates, exchange rat
2020-08-26 10:33:00 Wednesday ET

Through purposeful leadership, senior managers inspire teams to reach heights of both innovation and profitability with great brand identity and customer lo
2019-04-21 10:07:54 Sunday ET

Central bank independence remains important for core inflation containment in the current age of political populism. In accordance with the dual mandate of
2018-07-11 09:39:00 Wednesday ET

In recent times, the Trump administration sees the sweet state of U.S. economic expansion as of early-July 2018. The latest CNBC All-America Economic Survey
2025-10-04 13:37:00 Saturday ET

Stock Synopsis: With a new Python program, we use, adapt, apply, and leverage each of the mainstream Gemini Gen AI models to conduct this comprehensive fund