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U.S. Securities and Exchange Commission

Facebook faces UK fine over its data privacy scandal

Facebook is facing its first financial penalty for allowing the political consultancy Cambridge Analytica to forage through the personal data of millions of unknowing Facebook users.

The social media giant faces a 500,000-pound ($663,000) fine for failing to protect the personal information of its subscribers following an investigation into the Cambridge Analytica data harvesting scandal by the U.K. Information Commissioner's Office.

The proposed fine announced Wednesday is the maximum possible for the scandal, which first broke in March. While the penalty is small for Facebook, it is a warning shot for companies that now face fines of up to 2 percent of global revenue under...

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