The UK is about to bring in a new agency for the regulation of the tech giants. In 2021 April, a new code will enforce with new limits and standards to even smoothen the play of smaller rivals. The recently added part of the existing Competition and Markets Authority, the is the one who enforces this.
The new code will help consumers to possess more control over the data security and change the restrictions that make the other rivals difficult to compete with. It may even allow people to choose whether they can be subject to personalised advertisements. Also, if it doesn't align with the directives provided, it will have the power to fine them.
DMU, while enforcing the code, will have the power to check, block, and reverse the decisions made by the big tech companies. But the code is still to not introduced.
The government said “ online platforms bring huge benefits for businesses and society” it added “ “But there is growing consensus in the UK and abroad that the concentration of power amongst a small number of tech companies is curtailing growth in the tech sector, reducing innovation and potentially having negative impacts on the people and businesses that rely on them.”
The UK has been considering this step since 2019 to keep the tech giants in control. CMA in a recent report said that the existing laws are not appropriate for the efficient regulation of these tech giants. As GDPR and other attempts to control the limits of large digital platforms. This can safeguard how the big tech companies work.