The Economic Affairs Committee in the European Parliament today approved proposals to curb the power of the very largest tech companies. The Digital Markets Act (DMA) imposes strict obligations and bans on Facebook, Google and the Dutch company Booking. The European Parliament wants to put an end to manipulation by big tech, as seen in the Facebook Papers and Facebook Files.
The bill creates eighteen concrete obligations that tackle the abuse of power. The European Parliament is tackling the data monopoly of advertising giants Facebook and Google. Mark Zuckerberg and Sheryl Sandberg will feel this in their pockets.
We are also breaking up the internet giants. With interoperability, we will soon be able to communicate from one social medium to another. By making aggressive takeovers impossible, we can also stop the hunger for takeovers and give competitors a fair chance again.
The DMA will apply to five to ten companies. Besides tackling personalised ads, aggressive takeovers and imposing interoperability obligations, this law will also prohibit gatekeepers from favouring themselves. Giving their own apps and products better visibility, demanding huge payments from app developers and banning hotels from offering lower prices on their own websites will now be impossible.
The results of today’s vote will determine the European Parliament’s stance. In December, the European Parliament will vote during the plenary session, after which they must come to a final agreement with the European Council and the European Commission. The French President Macron has announced that he wants to reach an agreement in early 2022 so that the law can enter into force in 2023.
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