Big tech firms are getting a new U.K. regulator with the launch of a unit tasked with policing allegations of anticompetitive behavior
Britain’s new Digital Markets Unit will seek to ensure tech giants like Facebook and Google don’t exploit any market dominance to crowd out competition, officials say.
April 6, 2021 7:01 pm ETLONDON—The U.K. launched a new regulatory body aimed at policing allegations of anticompetitive behavior among the world’s largest technology companies, adding another agency to a growing list of watchdogs scrutinizing how tech giants use their market heft.
Britain’s new Digital Markets Unit will be tasked with making sure tech giants like Facebook Inc. and Alphabet Inc.’s Google don’t exploit any market dominance to crowd out competition, officials here said. The new unit was unveiled last year but launched officially—with limited powers at first—late Tuesday.
It won’t be able to levy fines until Parliament approves legislation governing its oversight power, a legal framework that is expected to be in place by next year. Meanwhile, the agency is hiring staff and will begin drawing up what would become a legally binding code of conduct for companies once that legislation passes. headtopics.comRead more: The Wall Street Journal »
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