Facebook appoints its first chief compliance officer amid ongoing scrutiny

The development comes as Facebook and other big tech companies face regulatory scrutiny, with growing bipartisan consensus to hold them accountable for business practices.

By:REUTERS
| Updated on: Jan 29 2021, 10:37 IST
The US Federal Trade Commission and nearly every US state filed lawsuits against Facebook in December, saying it used a
The US Federal Trade Commission and nearly every US state filed lawsuits against Facebook in December, saying it used a "buy or bury" strategy to snap up rivals and keep smaller competitors at bay. (REUTERS)

ViacomCBS' top compliance official, Henry Moniz, is moving to Facebook as the social media platform's first chief compliance officer, as Facebook faces scrutiny from regulators and lawmakers.

"We are pleased to confirm that Henry Moniz will be joining Facebook to lead our strategy and execution of compliance matters in the US and around the world," a Facebook spokeswoman told Reuters on Thursday.

You may be interested in

MobilesTablets Laptops
7% OFF
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
Google Pixel 8 Pro
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
34% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage

Moniz held senior compliance roles at Viacom starting in 2004. After its merger with CBS Corp in 2019, he became the chief compliance officer and chief audit executive of the combined company.

Also read
Looking for a smartphone? To check mobile finder click here.

Business Insider reported earlier on Thursday that Moniz will join Facebook on February 8 and will report to Jennifer Newstead, the company's general counsel, as well as to the audit and risk oversight committee of Facebook's board of directors.

The development comes as Facebook and other big tech companies face regulatory scrutiny, with growing bipartisan consensus to hold them accountable for business practices.

Also Read: Facebook's oversight board overturns 4 content takedowns in first ruling

The US Federal Trade Commission and nearly every US state filed lawsuits against Facebook in December, saying it used a "buy or bury" strategy to snap up rivals and keep smaller competitors at bay.

The complaints accused Facebook of buying up rivals, focusing specifically on its previous acquisitions of photo-sharing app Instagram for $1 billion in 2012 and messaging app WhatsApp for $19 billion in 2014.

The lawsuits were the biggest antitrust cases in a generation, comparable to the lawsuit against Microsoft Corp in 1998.

Facebook Chief Executive Mark Zuckerberg acknowledged last month that criticism of Facebook had hurt staff morale, saying public scrutiny "comes with the territory".

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 29 Jan, 10:37 IST
NEXT ARTICLE BEGINS