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UK to create new tech regulator to foster competition

As Reuters revealed yesterday, the UK will grant legal powers to a new tech regulator called Digital Markets Unit (DMU) to ensure compliance with pro-competitive rules. Your goal will be take on the tech giantssuch as Apple, Google and Facebook, prevent them from using their dominant position to drive out small businesses and thereby avoid harming consumers.

This happened shortly after learning that the british government had abandoned plans to regulate Apple and other major technology companies through this new regulatory unit. At this stage, the Department for Culture, Media and Sport (DCMS) has assured that this will not be the case and which would give the DMU statutory powers for penalize companies that do not meet the stipulated standards. These penalties would be up to 10% of your annual turnover and up to one 5% of daily global turnover for each day the violation remains in effect.

“The government will introduce legislation to put digital markets unity on a legal basis in due course,” the Department of Culture, Media and Sport said in an official statement.

UK and market competition

Currently, the DMU has around 60 employees and handles investigations around the App Store and the Apple and Google “duopoly” in the mobile ecosystem. In the theoretical case that Apple has committed violations, it could be the target of a millionaire economic penalty.

As for DCMS, the department said its proposals would make it easier for people to switch between iOS and Android or switch between social media accounts without losing their data. They would also ensure that small and medium-sized businesses get a best price from big tech companies.

The proposed measures will also ensure that news publishers can monetize their content online newsletters and to receive fair compensation. The DMU can intervene to resolve price conflicts between the media and the platforms. Application developers will be able to sell them under fairer and more transparent conditions.

“We want to level the playing field and give this new technology regulator a number of powers to deliver lower prices, better choice and more control to consumers, while supporting content creators, innovators and publishers. , also in our vital information industry,” said Minister for Digital Affairs Chris Philp.

via: Reuters

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