I was just reading about a violation of the Canadian fisheries act that has a maximum penalty of $200k, and realized the absurdity of there ever being a maximum fine.
There should be no maximum fine on any corporate penalty given that we do not cap the size of corporations or their bank accounts.
It would be like having maximum jail terms of 25 years for immortal beings that can live to 10,000.
Yeah; we very obvious need to move to gross-revenue-based fines. Megacorps can effectively ignore dollar-value fines, since even the maximal amounts are so relatively minuscule that they’re simply seen and handled as an OpEx line item, so there’s effectively zero deterrence factor.
I’ve said for years the fines should start with the revenue from said act, then have a serious fine on top of it, like maybe 50%. So, company makes $1 billion breaking the law, the fine is $1.5 billion. Second offence 100%, so $2 billion for this scenario. Obviously the second offence would be something different with a different revenue, but still the second offence is revenue + 100% of revenue. Third offence, nationalize the company.