The body will look to support greater competition in the industry and reduce the dominance of tech giants.
The Competition and Markets Authority (CMA) has announced it will set up a Digital Markets Unit (DMU) to promote greater competition in the tech sector. However, this is subject to legislation passing through the British parliament.
DMU is expected to create a statutory code of conduct for the industry. It would require platforms to increase transparency around customer data usage and give consumers greater control over their information.
CMA’s chief executive Andrea Coscelli said this step would help “tackle the market power of tech giants like Facebook and Google and ensure that businesses and consumers are protected.” Additionally, CMA’s Digital Markets Taskforce, including Ofcom and the Information Commissioner’s Office would present design recommendations for the DMU by the end of 2020.
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