The Competition Commission of Turkey announced on Wednesday that it has chosen to fine Facebook parent company Meta Platforms Inc. 4.8 million lira ($160,000) per day for neglecting to submit adequate documents during an earlier examination.
Following an examination of the 2022 online video advertising market, the Turkish Competition Board announced in a statement that Meta was obliged to submit a document outlining compliance measures to end its legal violations and restore competition in the sector.
The authority decided to impose a daily punishment starting on December 12 and continuing until a definitive compliance solution is presented to the board, claiming that it did not find the explanations in Meta’s compliance measures that were provided to the board satisfactory.
The authority fined Meta Platforms 346.72 million lira, or $11.57 million, in 2022 for breaking competition laws.
