This is the best summary I could come up with:

Facebook owner Meta Platforms will be fined 1m crowns ($98,500) a day over privacy breaches from 14 August, Norway’s data protection authority told Reuters on Monday, a decision that could have wider European implications.

“As of next Monday, a daily fine of 1 million crown will start to apply,” Tobias Judin, head of Datatilsynet’s international section told Reuters.

Meta last week said it intends to ask users in the European Union for their consent before allowing businesses to target advertising based on what they view on its services such as Facebook and Instagram.

Meta had to stop the processing of personal data immediately and until that consent mechanism was up and running.

“According to Meta, this will take several months, at the very earliest, for them to implement … And we don’t know what the consent mechanism will look like,” Judin said.

Meta said the change was made to address regulatory requirements in the region and stems from an order in January by Ireland’s Data Protection Commissioner, Meta’s lead EU regulator, to reassess the legal basis on how it targets ads.

I’m a bot and I’m open source!