The European Union has signaled that it considers digital market competition overhauls as important as traditional cartel enforcement. The EU’s Competition Commission has always had the authority to fine a company that violates EU competition law up to 10% of overall annual turnover. Under the new Digital Markets Act and Digital Services Act proposed Dec. 15, hefty competition fines would start applying to an industry with a wide-ranging footprint — online technology platforms.
Companies designated as “gatekeepers” under the proposed Digital Markets Act would have a new set of affirmative duties and would have to refrain from a number of ...