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Digital markets, competition and consumer law – from legislation to enforcement
Manage episode 431752451 series 3529738
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The Digital Markets, Competition and Consumers Act recently received Royal Assent. So what should businesses be doing to stay informed of the Act’s rollout as the Competition and Markets Authority begins its enforcement?
Fiona Garside, Chris Eberhardt, and Hayden Dunnett of Ashurst’s UK based Antitrust, Regulation and Foreign Investment Team delve into the three main pillars of the newly enacted Digital Markets, Competition and Consumers Act which promises significant regulatory changes. See our May 2024 update.
The team dissects how the new digital markets regime allows the Competition and Markets Authority (CMA) to designate firms with strategic market status (SMS), in order to impose bespoke conduct requirements and pro-competition intervention orders. The discussion highlights that the CMA's draft guidance leaves significant questions about how the CMA will exercise its broad powers, particularly in relation to conduct requirements and pro-competition interventions.
The team also consider the CMA's draft statement of policy on administrative penalties which proposes to apply an "in the round approach" to penalties for breaches of orders and undertakings following merger and market investigations. See our July 2024 update.
To listen to more Legal Outlook episodes, including past episodes of the Digital Markets Competition and Consumer Law Act, search for Ashurst Legal Outlook on Apple Podcasts, Spotify, or your wherever you get your podcasts.
The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.
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