UK Government Presents New Bill on Digital Competition

26 April 2023
The DMCC Bill will empower the Competition and Markets Authority (CMA) within the Digital Markets Unit (DMU) to designate a number of firms with significant control over strategically important activities as having "strategic market status." Designated firms will be will be given strict rules to operate under and could face fines of up to 10% of their global turnover if they breach the regime. Additionally, the legislation will enhance the competition regime, enabling the CMA to focus on areas of greatest potential harm and deliver a level playing field for businesses.