Tech & Science Big Tech: Great Britain wants to regulate digital markets

12:15  27 november  2020
12:15  27 november  2020 Source:   t3n.de

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The Competition and Markets Authority wants broader powers to break up digital businesses. Britain ’s competition regulator , the Competition and Markets Authority The Government ignored its recommendations made last year for a new regulator for the audit industry, and has not acted on the

A British regulator will create a “pro-competition” unit to ensure tech behemoths like Google and Facebook The UK’s Competition and Markets Authority (CMA) said on Friday that it would set up a “ Digital Markets “But the dominance of just a few big tech companies is leading to less innovation

The UK wants to limit the dominance of the technology giants and is founding the Digital Markets Unit. It is supposed to monitor compliance with new laws.

Großbritannien richtet neue Richtlinien und Behörden für digitale Märkte ein. © AS_Wdrs / Shutterstock UK establishes new guidelines and authorities for digital markets.

As of April 2021, the Digital Markets Unit (DMU), as a sub-unit of the existing CMA (Competion and Markets Authority), is to enforce guidelines that assign new framework conditions to the digital market. They will regulate the behavior of market-dominating platforms like Google and Facebook and try to create a level playing field for smaller competitors. This is what the British government announces. The law has not yet entered into force.

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Tech -sector policies must therefore be narrowly targeted and carefully crafted to minimise the risk of counterproductive outcomes. Yet attempts to address market concentration may have counterproductive effects too. Turning tech platforms into regulated utilities is also problematic.

LONDON — In the race to regulate Big Tech , there is one rule of thumb — whoever moves first gets to write the rules. That's a lesson from decades of experience in regulating other global sectors like trade or finance, and it holds true now as powerful Silicon Valley companies are finally coming around to the

New laws for data protection and transparency

The draft law states that consumers must have more choice and control over the use of their data. Small businesses should be able to advertise better online. In addition, one wants to bring the relationship between publishers and online platforms back into balance. One study found the quality of journalism declining and attributed it to the weakness of competition.

In addition, the law obliges digital companies to be more transparent. The press release specifically mentions digital advertising mechanisms and the way in which they use consumer data. The British government also wants to fight restraints of competition, such as sanctions from platforms for customers who use the services of competitors.

"The dominance of a few large technology companies leads to less innovation, higher advertising prices and less choice and control for consumers," says Minister of Economic Affairs Alok Sharma, explaining the steps. In a study published in 2019, the competition authority CMA came to the conclusion that “the existing laws are not suitable for effective regulation.” At the beginning of 2021, the government wants to advise on the form and function of the DMU and enact appropriate laws.

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usr: 1
This is interesting!