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The fines also needs to be fair, not fixed cost. I think the EU has got the percentage-of-revenue approach right. A million dollar fine for a small company can
by omeid2 7y ago
The fines also needs to be fair, not fixed cost. I think the EU has got the percentage-of-revenue approach right. A million dollar fine for a small company can be death-sentence while for a big player it is lose change, that is not fair.
- cobbzilla 7y agoI agree that percent of revenue is a much better metric to base these kinds of fines off of, but not without reservations -- a small company with high sales revenue but razor thin margin could get killed by a % revenue fine; this seems unfair to the little guy. On the other hand, if the fine is % income or anything but % gross receipts, then of course the system will be gamed endlessly by accountants and lawyers to show the smallest possible net number. The end result might be worse than a fixed fine. So % of revenue it is.
- WrtCdEvrydy 7y ago> So % of revenue it is. GDPR, 4% of Global revenue and your Directors can be barred from operating in the EU.