The Digital Markets, Competition, and Consumers Bill: What You Need to Know
The digital economy has reshaped how businesses operate and consumers engage with markets. In response to the evolving digital landscape, the UK government has introduced the Digital Markets, Competition, and Consumers (DMCC) Bill—a landmark piece of legislation aimed at fostering fair competition, protecting consumers, and regulating digital markets. What is the DMCC Bill? The DMCC Bill is designed to empower the UK’s Competition and Markets Authority (CMA) with enhanced tools to oversee competition in digital markets. It introduces new measures to curb anti-competitive practices by dominant tech firms and strengthen consumer rights. The bill is part of a broader effort to ensure that digital markets remain dynamic, innovative, and fair for both businesses and consumers. Key Features of the Bill 1. Regulation of Digital Markets The bill establishes a Digital Markets Unit (DMU) within the CMA, tasked with regulating firms that hold "Strategic Market Status" (SMS). These f...