Britain’s competition regulator sets out new regime for tech giants

LONDON: Britain’s competition watchdog outlined a new regime for regulating tech giants such as Google and Facebook, saying it needed new powers to harness the full potential of digital markets and drive competition and innovation.

It proposed a new, legally binding code of conduct, pro-competitive interventions in the market and enhanced merger rules, overseen by a Digital Markets Unit that was announced by the government last month.

The new regime, which will require government legislation, will be part of a wider regulatory framework for digital markets, including new rules for harmful online content and data protection, the CMA said.