The government said that large tech companies such as Facebook and Google would have to accept new rules and regulations for competition in the UK or face the risk of paying huge fines. The new DMU (Digital Markets Unit) will be handed powers for clamping down on some firms’ “predatory practices.” If they fail to comply, the regulator will hold power to fine corporations or establishments up to 10% of their global turnover.
Besides increasing competition among tech businesses, the authorities aim to give users sufficient control over their data. The media approached serval prominent tech firms, including Apple, Google, and Meta, but has received no answer. The Department of DCMS (Digital, Culture, Media, and Sport) mentioned the large fines or penalties; tech enterprises could be passed further fines of 5% of daily global turnover for each day an offense continues.
For brands like Apple Inc., that could be 10s of billions of US dollars; “Senior supervisors will encounter civil penalties if their businesses fail to employ properly with requests for data,” the government said. However, it is still unclear when the modifications will come into power, as the administration has said the required legislation would be introduced “in due course.”
About Author
