Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Platforms definition

What does Platforms mean? In legal and advisory practice, platforms are online investment administration systems used by advisers and clients to manage portfolios across multiple tax wrappers and products from a single interface. The term is descriptive (not statutory), though the FCA Glossary defines the related concept of a “platform service.” Usage is broadly consistent across England & Wales, Scotland and Northern Ireland; in Ireland, similar services are regulated by the Central Bank of Ireland. Typical legal features include: custody via a nominee company (legal title held by the nominee; beneficial ownership with the client), dealing and settlement, consolidated reporting, rebalancing, model portfolios...

CMA orders Meta Platforms (Facebook) to divest Giphy after SLC finding in UK display advertising and social media; IEO breach penalties; CAT appeal

Published by a LexisNexis Competition expert

Practice notes

CASE HUB NOTE—appeal lodged before the CAT in 1429/4/12/21 Archived

This archived case hub captures the position as at the decision dated 30 November 2021; it is no longer updated. See the timeline.

Case facts

Summary: a UK merger inquiry into Facebook, Inc’s (now Meta Platforms Inc) completed purchase of Giphy, Inc. The deal created overlaps in digital Advertising services and in the supply of GIFs.

Latest developments

On 4 February 2022, the CMA issued a second Penalty notice against Facebook, Tabby Acquisition., and Facebook UK Limited, jointly and severally, for breaching the IEO. A combined fine of £1.5m was levied. Under the IEO, Facebook had to promptly notify the CMA of any ‘material changes’ to the business—such as departures of key staff—and obtain prior approval before rehiring or reallocating duties. Following the departure of three key employees and the redistribution of their responsibilities, Facebook failed on both requirements. Those three had been named on a Meta-supplied list of key staff given to the CMA, underscoring their significance.

Parties

Facebook, Inc (Facebook)—Facebook supplies a range of online products and services to customers in the UK, including the...

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Web page updated on 21/05/2026

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