Earlier quoted context omitted.
Perhaps the fine amount should be a function of market cap for public companies.
The fine should be proportional to the damage. A tiny medical startup that leaks psychotherapy records “hurts” more than a company that leaks your shoe size. Perhaps companies should buy insurance for this and then that would incentivize insurance companies to help protect their clients. Insurance requirements are a significant safety factor at many physical businesses. The law is important, but being denied insuranc…
I agree. I meant that market cap should be taken into account along with factors such as damage. The goal is that for the same wrong, a small and a large company face the same penalty, but adjusted in proportion to their financials.