New UK Regulator to Tackle Tech Giants

A new UK regulator is to take on tech giants to put a stop to their dominance. Companies coming under fire include Facebook, Amazon and Google.

The Digital Markets Unit (DMU), who will govern this, has been set up in the Competition and Markets Authority (CMA). They will start by drawing up a new code of conduct for tech companies. This will be with regards to their relationship with content providers, users and advertisers.

Being “Pro-Competition”

The business secretary Kwasi Kwarteng stated that the process will be “unashamedly pro-competition”, and “help curb the dominance of the tech giants”.

Currently, Facebook, Amazon and Google control the majority of digital advertising revenue. This is an ongoing issue and a change is long overdue. Now is the time to do something to create a fairer marketplace for both business and consumers.

The conduct will not just govern large tech firms though, but also include small businesses and new organisations too. Anyone wanting to advertise or publish content online will come under these new rules.

However, the new code will need to be made law before regulators can take any action.

According to Digital Secretary Oliver Dowden it is a major milestone on the way to create the world’s most competitive online markets, with focus on content publishers, consumers and businesses.

Chief executive of the CMA Andrea Coscelli believes everybody shopping online or sharing their information over the internet should have choice and fair pricing. They should also be able to enjoy their online activities in the knowledge their data is secure. This is the least that people should expect from such a fast moving and competitive industry.

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