At the very least, fines of this nature should be an investigation into how much money was saved/generated by breaking the rule, and then using that plus some percentage for the fine amount. Too often the fine ends up being smaller than the gain which means it’s always worth it to break the rule, especially knowing there’s a chance you might not even get caught.
Or do what they do for traffic tickets and attach points to violations. After enough points, revoke the company’s right to operate, and if it’s critical, nationalize it.
Violate the law until all but one strike is used, making huge profits each time.
Disband the company.
Repeat.
Love the idea of holding companies accountable, but this would be the outcome of that solution. If you want it to stick, you need to target their pockets.
Add a strike system for board members and/or executives too. If you’re on the board while the company committed the action that got it a strike, you could get a strike too. Too many and you get whatever punishment.
As someone else said above, it is hard to calculate exactly how much they gained.
Instead using a set % of revenue would be simpler.
If enough companies do it, raise the %.
If someone repeatedly does it relative to others, raise the % for them on each repeated case.
That way it is simple, but still scalable and adjustable.
Similarly, scale it down if it disproportionate to how much is saved by breaking the law, or how much it hurts the society , to ensure it is a just punishment, and not a tool for big corporations to hurt smaller ones etc.
I have a better option ban the VCs and CEOs and promoters from owning or starting another company for 20-30 years along with selling the company to someone else.
At the very least, fines of this nature should be an investigation into how much money was saved/generated by breaking the rule, and then using that plus some percentage for the fine amount. Too often the fine ends up being smaller than the gain which means it’s always worth it to break the rule, especially knowing there’s a chance you might not even get caught.
Or do what they do for traffic tickets and attach points to violations. After enough points, revoke the company’s right to operate, and if it’s critical, nationalize it.
Love the idea of holding companies accountable, but this would be the outcome of that solution. If you want it to stick, you need to target their pockets.
Add a strike system for board members and/or executives too. If you’re on the board while the company committed the action that got it a strike, you could get a strike too. Too many and you get whatever punishment.
As someone else said above, it is hard to calculate exactly how much they gained.
Instead using a set % of revenue would be simpler. If enough companies do it, raise the %. If someone repeatedly does it relative to others, raise the % for them on each repeated case.
That way it is simple, but still scalable and adjustable.
Similarly, scale it down if it disproportionate to how much is saved by breaking the law, or how much it hurts the society , to ensure it is a just punishment, and not a tool for big corporations to hurt smaller ones etc.
I have a better option ban the VCs and CEOs and promoters from owning or starting another company for 20-30 years along with selling the company to someone else.