Google plans to invest $500 million over the next decade in its compliance structure as part of a settlement for a shareholder lawsuit accusing it of antitrust violations. This settlement includes the formation of a 'Risk and Compliance Committee' and a dedicated group of senior vice presidents aimed at improving internal compliance mechanisms. Although Google did not admit wrongdoing, this move reflects its attempt to address growing regulatory scrutiny and concerns regarding monopolistic practices in its advertising business. Approval from a San Francisco judge is still pending.
The settlement will have Google create a 'Risk and Compliance Committee' to ensure adherence to regulatory laws, signaling a significant overhaul in their compliance strategy.
The $500 million allocated for reforms aims to establish advanced internal compliance mechanisms to prevent future antitrust violations.
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