In a major speech on Thursday, Andrea Coscelli said a small number of very large digital firms have become extremely powerful and made it very difficult for potential rivals to challenge them.
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The CMA has responded to the government’s proposals to enhance its ability to tackle breaches of competition and consumer law, and empower the Digital Markets Unit (DMU).
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The promised Digital Markets Unit has been launched by the UK government, with a remit to prevent technology firms exploiting market dominance, and it has no real power until 2022.
As announced in late 2020, the UK government has now formed a Digital Markets Unit, which it describes as a tough new regulator to prevent Big Tech misusing market dominance. However, reportedly the DMU will require new legislation which is not expected to be introduced for at least a year. Today is a major milestone in the path to creating the world s most competitive online markets, with consumers, entrepreneurs and content publishers at their heart, said the UK Digital Secretary Oliver Dowden in a statement. The Digital Markets Unit has launched and I ve asked it to begin by looking at the relationships between platforms and content providers, and platforms and digital advertisers.