As regulators around the world fiercely debate new ways to oversee competition in the digital sector, the EU is on the brink of formally approving a landmark new law. The Digital Markets Act (DMA) will impose a stringent regulatory regime on large online platforms (so-called “gatekeepers”) and give the European Commission (Commission) new enforcement powers, including an ability to impose severe fines and remedies for noncompliance.
Once it comes into force, the DMA is set to revolutionize the way in which so-called Big Tech is regulated in the EU, shifting toward ex-ante rulemaking and away from traditional after-the-fact enforcement. Given the far-reaching nature of the DMA obligations, their effects will likely be felt globally.
There is a lot to digest, so below is our breakdown of the top 10 key points you should know about the EU’s new rules. (more…)