The United Kingdom competition regulator is setting up a new competition regime for digital markets that will prescribe various measures for designated tech platforms such as: preventing these platforms from preferencing their own products and services, requiring these platforms to provide competitors with greater access to data and functionality, requiring these platforms to allow the products and services of other companies to work with their own, requiring these platforms to increase transparency concerning their algorithms, etc. These rules will be part of the Digital Markets, Competition and Consumers (DMCC) Bill, which is under legislative process. The rules will only apply to firms designated by the UK Competition and Markets Authority (CMA) to have Strategic Market Status (SMS), which will be determined by various factors such as the firm's market power in the UK, revenue, strategic significance, etc. "If the CMA finds businesses are using their status to gain an unfair competitive advantage, it will take targeted and proportionate action to address the behaviour. In some cases, this will mean imposing conduct requirements on firms in relation to the digital activity for which they have been designated," the regulator stated. The CMA will consult with groups representing UK consumers, businesses and tech professionals to finalise the rules. You can find a more detailed guide to the CMA’s approach here and here. Countries across the world are looking at regulations aimed at digital markets. The European Union has enacted the Digital Markets Act (DMA) and Digital Services Act (DSA) that prescribe various…
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Vaishnaw said that in the next five years, there will be significant disruptions in the way telecom technology operates.
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