Elon Musk ‘not above the law’, warns US regulator
Following reports that Twitter’s top privacy and compliance managers left the network, a US regulator says it is closely monitoring events there with “grave concern.”
According to the Federal Trade Commission (FTC), Elon Musk, the new CEO, “is not above the law.”
Separately, Mr. Musk allegedly told staff members that Twitter’s bankruptcy was a possibility. Since Mr. Musk started sacking hundreds of employees last week, the company has been in a state of chaos.
There are worries that Twitter may be overrun with fake accounts as a result of the opportunity for users to purchase verified status as part of a new subscription.
Twitter’s former head of trust and safety, Yoel Roth, updated his profile on the social media site on Thursday to reflect his departure from the position.
According to reports, the company’s top security officer Lea Kissner along with chief compliance officer Marianne Fogarty and chief privacy officer Damien Kieran all departed.
The departures could raise the likelihood that Twitter will disobey legal directives. In May, the company received a $150 million (£119 million) fine and had to abide by new privacy laws.
Director of Public Affairs for the FTC Douglas Farrar stated, “We are monitoring recent developments at Twitter with grave concern.”
Companies are required to abide by our consent decrees, and no chief executive or firm is above the law. The FTC has “new powers to assure compliance, and we are prepared to utilize them,” according to Mr. Farrer.
To resolve claims that it had improperly exploited user data to assist in the sale of targeted advertisements, Twitter paid the sum in May. In addition to paying a fine, it had to accept new guidelines and implement a stronger privacy and security programme, which was in charge of the executives who reportedly resigned.
Since taking over, Mr. Musk has fired former CEO Parag Agrawal and other top executives. Additionally, the company’s heads of advertising and marketing have also left, raising concerns that Twitter does not have enough personnel in place to ensure that it remains compliant with regulations.
