3 ms·
I'm excited to hear about their plans for GDPR and DMA compliance. Europe starting to look very prescient here. BTW: if you uncover a willful violation of the
by hiddencost 2y ago
I'm excited to hear about their plans for GDPR and DMA compliance.
Europe starting to look very prescient here.
BTW: if you uncover a willful violation of these laws at your company (preferably with the knowledge of a director), you can whistleblow to the SEC (and the relevant EU authorities at the same time), and the SEC will provide you strong whistleblower protections and hopefully you can walk away with millions of dollars in whistleblower awards.
To my knowledge the EU doesn't provide the same kind of juicy whistleblower incentives, but willfully violating such a strong EU law would also trigger SEC enforcement, and they're the ones who will pay big bucks.
To my knowledge the largest SEC whistleblower award was $279 million.
I encourage you to reach out to a lawyer, e g the non profit Whistleblower Aid.
- snowpid 2y agoCan you explain why an American agency would care about violated EU laws?
- zrm 2y ago"Everything is securities fraud." -Matt Levine
- ale42 2y agoMS is a publicly traded company. If the company exposes itself to a potential huge fine by wrongdoing on one of their markets, that's totally something the SEC can be interested in.
- snowpid 2y agois there some cases where that happenend? American public company broke non - American law and the SEC intervened?
- ale42 2y agoI don't know, but from what I've read online, "the antifraud provisions of the federal securities laws apply extraterritorially [...] when the conduct outside the United States had a substantial effect in the United States or upon United States citizens." [1]. Now, if MS receives a huge fine in Europe, it might have an influence on the stock, which might imply losses for US-based investors, and that should be sufficient. Source: [1] https://www.zuckermanlaw.com/sp_faq/sec-enforcement-actions-international-schemes/ https://www.zuckermanlaw.com/sp_faq/sec-enforcement-actions-...
- snowpid 2y agoThanks!
- deleted 2y ago[deleted]
- zoobab 2y agoVictims of GDPR violations can't get any compensation in Europe. If the US pass a GDPR-like legislation, try to get monetary damages and make it a business for lawyers, because in Europe the money goes into the public coffers.