A new tech regulator will work to limit the power of Google, Facebook and other tech platforms in an effort to ensure a level playing field for smaller competitors and a fair market for consumers says the UK Govt.
The Competition and Markets Authority (CMA) will gain a dedicated Digital Markets Unit, empowered to write and enforce a new code of practice on technology companies which will set out the limits of acceptable behaviour, the code being imposed to only those companies deemed to have "strategic market status" which has not yet been decided what that means, nor what restrictions will be imposed.
Andrea Coscelli, the chief executive of the CMA, welcomed the move. “Only through a new pro-competition regulatory regime can we tackle the market power of tech giants like Facebook and Google and ensure that businesses and consumers are protected. We will soon be providing advice to government on how this new regime should work, as requested earlier this year, and stand ready to support the setup of the Digital Markets Unit.”