Google, Facebook and Amazon face new UK regulators

Amazon, Apple, Facebook, Google logos

Leading tech companies are under scrutiny from regulators around the world

New regulators have begun to work in the UK with the aim of curbing the domination of tech giants.

The Digital Markets Unit (DMU) will first consider creating a new code of conduct for relationships between companies such as Facebook and Google and content providers and advertisers.

The new unit will be based within the Competition and Markets Authority.

The administration will “shamelessly promote competition,” the business secretary said.

DMU’s first job is to think about a code of conduct that manages the relationships between tech companies and their users, whether they’re a small business that wants to promote or a news organization that’s considering distributing journalism.

Among them, Facebook, Google and Amazon make up the majority of digital advertising revenue.

Before taking action, new regulators must wait for such code to be enacted.

“Today is a major milestone in building the world’s most competitive online market, centered on consumers, entrepreneurs and content publishers,” said Oliver Dowden, a digital secretary. ..

Secretary-General Kwasi Kwaten said the competition promotion system “helps to curb the dominance of tech giants.”

Andrea Coscelli, CMA’s CEO, said: “People who shop online and share information online should enjoy the choices, secure data, and fair prices associated with a dynamic and competitive industry.”

Posted on