Parliament passes the long-awaited Digital Markets, Competition & Consumers Bill: what you need to know

The long-awaited Digital Markets, Competition and Consumer (DMCC) Bill has been approved by the UK Parliament today. The bill brings about wide-ranging change in digital markets, including introducing a new regime regulating firms with strategic market status (SMS). The DMCC is the UK’s version of the EU’s Digital Markets Act with a number of similarities, but also important differences.

But the new SMS regime is not the only change that will impact those interested in the tech sector. Also part of the bill are:

1. merger control and antitrust rules including new merger control thresholds and extra-territorial powers for the CMA; and
2. consumer law – bringing in a new direct enforcement regime and fining powers for the CMA, which brings the regime into line with the existing competition law regime. The CMA is looking particularly closely at how consumers can be harmed when purchasing goods or services online and these rules will apply not just the large tech firms, but to all businesses that are interacting with UK consumers.

Read more about the key changes under the DMCC here and look out for more in depth commentary that we will be putting out over the next few weeks.