UK Law Will Let Regulators Fine Big Tech Without Court Approval

Emma Roth reports via The Verge: The UK could subject big tech companies to hefty fines if they don't comply with new rules meant to promote competition in digital markets. On Thursday, lawmakers passed the Digital Markets, Competition and Consumer Bill (DMCC) through Parliament, which will let regulators enforce rules without the help of the courts. The DMCC also addresses consumer protection issues by banning fake reviews, forcing companies to be more transparent about their subscription contracts, regulating secondary ticket sales, and getting rid of hidden fees. It will also force certain companies to report mergers to the UK's Competition and Markets Authority (CMA). The European Union enacted a similar law, called the Digital Markets Act (DMA). Only the companies the CMA designates as having Strategic Market Status (SMS) have to comply. These SMS companies are described as having "substantial and entrenched market power" and "a position of strategic significance" in the UK. They must have a global revenue of more than 25 billion euros or UK revenue of more than 1 billion euros. The law will also give the CMA the authority to determine whether a company has broken a law, require compliance, and issue a fine -- all without going through the court system. The CMA can fine companies up to 10 percent of the total value of a business's global revenue for violating the new rules.

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