Taking stock of the UK Digital Markets, Competition and Consumer Bill: the Pro-competition regime for Digital Markets

Name: Taking stock of the UK Digital Markets, Competition and Consumer Bill: the Pro-competition regime for Digital Markets
Start: 2023-10-25T09:00:00
End: 2023-10-25T10:00:00
Location: techUK, 10 St Bride Street, London, EC4A 4AD

9am – 10am 25 October 2023 Hybrid techUK, 10 St Bride Street, London, EC4A 4AD

techUK is hosting a panel discussion to examine the Digital Markets, Competition and Consumer Bill, the progress it has made in Parliament so far and the key topics likely to be debated as the Bill looks to continue its passage after the King’s Speech.

The Digital Markets, Competition and Consumer Bill is the Government’s attempt to regulate fast moving and concentrated digital markets. This will involve the placing of the Competition and Markets Authority’s Digital Markets Unit on a statutory footing and giving it new powers.

Unlike previous competition policies, the regime will differ from traditional competition policy by taking an ‘ex-ante’ and ‘participative’ approach to regulation.Which means the DMU will have an established ongoing relationship with the companies that have been designated as having Strategic Market Status (SMS firms) as well as working with other firms in the same ecosystem, competing firms and consumers. 

The DMU will be able to assign SMS firms with ‘conduct requirements’, governing their behaviour in a particular field of digital activity aimed at addressing some of the consequences of entrenched market power. The DMU may also use Pro-Competition Interventions, which are targeted at the root causes of a firm’s entrenched market power.

Key questions surrounding the Bill include:

How the DMU will operate in practice – the DMU will consult on how significant parts of the regime will operate with outstanding questions to be answered, such as how the regime will broadly consider consumer benefits. How it will consult with the sector and how will evidence and information be collected and shared?
The accountability of the Digital Markets Unit – with the DMU having broad powers, how will it be scrutinised and held to account to ensure it supports a thriving and competitive tech sector?
The checks and balances on the DMU – what are the guardrails on the regime for both regulated SMS companies and the businesses and consumers affected by its decisions?

This panel discussion will provide a refresher for techUK members on the key issues that have been debated around the Bill so far and will examine these outstanding questions for the regime.

The event will be held in a hybrid format and a recording will be posted online in due course. The panel will include Q&A with an opportunity for techUK members to submit questions for the panel ahead of the event.