UK Antitrust Regulator Given Mandate to Regulate Big Tech

King Charles of England tightens rules for big tech. (photo: special doc.)

JAKARTA - In King Charles's Speech outlining the government's priorities, the UK's antitrust regulator will be given the legal power to adjust regulations for large technology companies, such as Meta, Alphabet and Amazon. This is done to ensure that they treat businesses and consumers fairly.

The Competition and Markets Authority (CMA) established a dedicated Digital Markets Unit more than two years ago, equipped with the expertise to examine fast-evolving markets, such as social media.

The proposed bill “Digital Markets, Competition and Consumers,” which is supposed to come into effect in 2022, would give the unit “teeth” to support its work.

A small number of large technology companies with designated status will have to comply with the rules, the government said.

They could be subject to fines of up to 10% of global turnover for violations in the bill announced on Tuesday, November 7.