UK regulator will have the power to impose steep fines on Big Tech

Stefan Mileschin · 9th May 2022, 09:07

The UK's recently established Big Tech regulator will have extensive authority to punish giant companies it deems anti-competitive. As TechCrunchnotes, the country's Department for Digital, Culture, Media & Sport (DCMS) has revealed that the Digital Markets Unit will have the power to levy fines of up to 10 percent of a company's worldwide annual turnover if it doesn't honor codes of conduct, plus up to five percent of daily turnover for each day the violations continue. Firms will also have to make it easier to switch between platforms (such as mobile devices and social networks), break away from default apps (including search) and take more control of data sharing.

https://www.engadget.com/uk-cma-dmu-...8.html?src=rss

9th May 2022, 09:07	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 153,575	UK regulator will have the power to impose steep fines on Big Tech The UK's recently established Big Tech regulator will have extensive authority to punish giant companies it deems anti-competitive. As TechCrunchnotes, the country's Department for Digital, Culture, Media & Sport (DCMS) has revealed that the Digital Markets Unit will have the power to levy fines of up to 10 percent of a company's worldwide annual turnover if it doesn't honor codes of conduct, plus up to five percent of daily turnover for each day the violations continue. Firms will also have to make it easier to switch between platforms (such as mobile devices and social networks), break away from default apps (including search) and take more control of data sharing. https://www.engadget.com/uk-cma-dmu-...8.html?src=rss

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