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Regulating the gatekeepers: Brussels floats a three-pillar plan to rein in digital platforms
05 June 2020 00:00
Amazon.com, Google, Facebook and a range of global digital platforms are facing a regulatory onslaught in the EU, as the European Commission floats a plan for a comprehensive overhaul designed to tackle digital “gatekeepers,” market concentration and online services. The biggest change is a new tool to investigate markets and impose behavioral or structural remedies — even when no company has been found to be in violation of competition laws. If adopted, the suite of proposals would mark a turning point in the EU’s regulatory battle with Big Tech.
Companies using algorithms to set prices & manage suppliers, as well as concentrated sectors such as mobile telephony or air transport, could be some of the surprise victims of new proposal for new EU powers.
Google, Facebook & other Big Tech companies can expect increased EU scrutiny & a set of new regulations targeting their businesses in the bloc.