The company has withdrawn its appeal of the fine, originally issued last year, and will settle the probe from the U.K. Information Commissioner’s Office (ICO) without an admission of guilt. “We are pleased to hear that Facebook has taken, and will continue to take, significant steps to comply with the fundamental principles of data protection,” said ICO deputy commissioner James Dipple-Johnstone. (Bloomberg)

Talking point: The Cambridge Analytica scandal raised the intensity of questions about Facebook’s practices, after a whistleblower revealed that the British political consulting firm had access to Facebook users’ data without their clear consent. Commenting on the fine, Harry Kinmonth, Facebook’s associate general counsel, said the ICO had not “discovered evidence that the data of Facebook users in the EU was transferred to Cambridge Analytica,” and that the firm looked forward to continued cooperation with the office’s probe of “the use of data analytics for political purposes.” This isn’t the first fine the company has agreed to pay, and it is largely symbolic—Facebook made over US$55 billion in revenue last year.