Source: UK Government
New powers proposed for watchdog to suspend, block and reverse decisions by tech giants, and issue fines of up to 10% of turnover for serious breaches
Watchdog to boost UK startup scene by creating level playing field
Proposals have been set out for a new pro-competition regime for digital markets that will support the UK’s growing tech sector and protect consumers.
The Digital Markets Unit (DMU) will be given the power to designate tech firms that hold substantial and entrenched market power with ‘Strategic Market Status’ (SMS). This will require them to follow new rules of acceptable behaviour with competitors and customers in a move that will benefit the public and drive growth and innovation across the economy.
Report Highlights Opportunity Of UK Lawtech And Calls For Collaboration To Realise Future Growth
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UK gov launches £375 million fund for game-changing startups
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Government unveils proposals to increase competition in UK digital economy | Department for Digital, Culture, Media and Sport
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Research and development investment programme launches in UK
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