By: The Guardian

December 8, 2020

The UK’s new technology regulator should have the power to fine Google, Facebook and other large firms in the industry billions of pounds if they fail to stick to a new code of conduct, according to proposals from the competition regulator.

The Competition and Markets Authority (CMA), which will host the new dedicated Digital Markets Unit (DMU), has advised the government that the new regulator must have the power to impose huge fines as a final “backstop” or it will be unable to ensure tech companies abide by the new rules, which are designed to create a fairer market for smaller rivals, newspaper and magazine publishers, and consumers.