Irish Data Watchdog, South African Competition Commission Penalize Facebook Parent Meta

• Privacy watchdog Irish Data Protection Commission penalized Meta Platforms Inc (NASDAQ:FB) €17 million ($19 million) for failing to prevent a series of data breaches on its Facebook platform in 2018, Bloomberg reports. The breach affected up to 50 million accounts. 
• "This fine is about record-keeping practices from 2018 that we have since updated, not a failure to protect people's information," Meta said.
• South Africa's Competition Commission looked to penalize Meta by 10% of its South African revenues after removing a local platform called GovChat from the WhatsApp Business Application Programming Interface, Bloomberg reports.
• Meta justified the removal citing compliance issues. "GovChat has repeatedly refused to comply with our policies, which are designed to protect citizens and their information, preferring to prioritize its own commercial interests over the public," a WhatsApp spokesperson told Bloomberg. 
• Price Action: FB shares traded higher by 1.64% at $189.69 on the last check Tuesday.
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