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> Because the goal is compliance, not to put companies out of business. There's middle ground between "we take 100% of your revenue" and "we take 0.001% of you
by luckylion 6y ago
> Because the goal is compliance, not to put companies out of business.
There's middle ground between "we take 100% of your revenue" and "we take 0.001% of your revenue". Given that we're not this lenient with private citizens and small companies, why should we be with international corporations?
- jacquesm 6y agoThat's why the fines can be ramped up. The largest fines were a substantial fraction of the revenues for the companies they were addressed to and there is no practical limit once you take per violation figures into account. You ignore this at your peril.
- foepys 6y agoIt's not 100%. The fine can get up to 4% global revenue or 20 million Euro, whichever is higher.
- jacquesm 6y agoThere is still some unclarity as to whether or not multiple fines can be issued for different transgressions, there hasn't been such a case yet and nobody has gotten close to the limit so for now this is still grey. But I think that once fined at that level no sane CEO is going to risk getting a second such fine in the same year or even at all.