The European Union imposed a €2.9 billion fine on the US technology company. The charges against Google include violating regional competition rules and favoring its own digital advertising services.

“The European Commission also ordered it to take measures to curb the conflict of interest,” after postponing the decision for a week.

The fine, which amounts to approximately 3.5 billion dollars, was imposed on the grounds that the US company “abused its dominant position in the online advertising sector.” This sanction, known as Adtech, which Google immediately announced it would challenge, was highly anticipated. The European Commission had threatened in 2023 to require the spin-off of part of the group’s activities in this area, something it ultimately has not decided on for the time being.

The ruling was criticized by US President Donald Trump on his social media platform Truth Social, where he stated that “if the EU does not reverse the ‘unfair’ fines, it will be ‘forced’ to activate a punitive mechanism of customs duties, Section 301.”

On Friday, September 5, the Commission demanded that Google end the behavior that allows it to favor its own advertising technology services and take “measures to eradicate its inherent conflicts of interest throughout the supply chain.”

M.Pino

Source: DW

(Reference image source: Adarsh Chauhan on Unsplash)

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Robinhood Securities LLC and Robinhood Financial LLC will be required to pay a $45 million fine for failure to comply with various rules imposed by the U.S. Securities and Exchange Commission (SEC).

SEC official Sanjay Wadhwa said: “Today’s order finds that two Robinhood firms failed to comply with a broad range of significant regulatory requirements, including failing to accurately report trading activity, comply with short-selling rules, file suspicious activity reports on a timely basis, maintain books and records, and protect customer information.”

The investigation includes charges of providing suspicious data since 2019, exposing customer data to hackers, violating regulations on “maintaining electronic communications and protecting operational data,” among others.

Both brokers admitted to the SEC’s allegations and have agreed to “conduct internal audits and remediation plans to address these issues.” In this regard, Robinhood Securities will pay a fine of $33.5 million and Robinhood Financial will pay $11.5 million.

M.Pino

Source: beincrypto

(Reference image source: Bermix Studio on Unsplash)

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La entrada Robinhood fined $45 million by SEC apareció primero en Bitfinance.