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CMA will host the first two days of the Digital Summit of the G7 Competition Head

The Competition and Markets Authority (CMA) is welcoming the heads and guests of the G7 authorities to London headquarters today for an agenda-setting event. The G7 Digital Competition Enforcer Summit aims to strengthen relationships between international competition authorities and enhance collaboration on competition-related issues in the digital market.

The summit provides a unique opportunity for international organizations to discuss a variety of questions, including new issues such as large digital platforms, app stores, online marketplaces, digital advertising, mobile ecosystems, cloud computing, algorithms and more. .. It also provides participants with the opportunity to explore potential areas of collaboration and think about the best ways to use their skills, knowledge and resources to meet the challenges of the digital market.

These discussions are at the heart of the challenges of the digital market and the need to address one of the most important issues facing governments and competition authorities around the world, Big Tech.

Work related to the summit comes from the G7 Presidency of the United Kingdom, and the CMA is tasked with leveraging its position as a major competition authority to convene international partners. The goal is to find a coherent and complementary way to promote competition and support innovation. It is based on a previous collaboration between CMA and its international counterparts.

This is the first time that G7 (Canada, France, Germany, Italy, Japan, UK, US, EU) competition managers have specifically discussed these issues with the G7 guest country competition officials (Australia, USA). India, South Africa, South Korea).

Jointly today to understand some of the work being done by the G7 competition authorities Summary.. This document outlines authorities’ efforts to address competitive issues in the digital market and highlights shared approaches and tactics.

These include:

  • Initiate investigations and studies, or bring enforcement measures.
  • Development of a team of experts with technical experts.
  • Consider or introduce legislative amendments to strengthen enforcement tools or introduce new regulatory regimes.
  • Ensure domestic and international regulatory cooperation.

This gist not only informs future cooperation and coordination, including existing international competition forums, but also provides resources to governments and other policy makers.

Andrea Coscelli, CMA Chief Executive Officer, said:

The technology business is at the heart of many of the services that are of great importance to consumers and businesses, so it is important that they continue to thrive. But now it’s focused on the hands of companies that have too much market power and too little market power. Whether it’s online shopping, web search, or social media, companies like Apple, Google, Amazon, and Facebook have an unprecedented level of influence in our lives.

These global challenges require a coordinated global response. Therefore, this summit is very important.

As leaders of the G7 competition authorities, we recognize that joint action across international jurisdictions is needed to ensure that Big Tech’s dominance does not harm people or businesses. increase.

Today is an important step towards strengthening collaboration that enables lasting positive change in digital markets around the world.

CMA is one of the leading global authorities taking steps to address competitive concerns in the digital market.It has been established Digital market unit (DMU) Not only will consumers be able to select and manage more data, but it will also promote online competition and crack down on unfair practices. The DMU was launched in the shadows of April, and the government recently discussed the introduction of legislation that would empower competition and innovation, empowering the power needed to oversee the new regulatory regime of the most powerful digital companies. ..

CMA is also part Digital Regulatory Cooperation Forum (DRCF)Alongside the Information Commissioner’s Office in the United Kingdom, Ofcom, and the Financial Conduct Authority. Established in July 2020 on the basis of strong cooperation between these organizations, DRCF ensures a higher level of cooperation and addresses the unique challenges posed by the regulation of online platforms.

DRCF is currently launching a new work program to uncover digital regulatory issues. Apart from the summit, DRCF members today participate in a panel discussion hosted by the Department for Digital, Culture, Media and Sports (DCMS) at the Future Tech Forum to discuss the program. As part of future work programs, digital sector stakeholders are encouraged to contact their concerns.

CMA is conducting a lot of ongoing research on digital market issues.These include investigations Google’s “Privacy Sandbox”, Use of advertising data by Facebook, Apple App Store,and Mobile ecosystem market research.. We are also investigating M & A acquisitions through our authority to investigate mergers. Facebook Giphy (now a meta platform)After tentatively discovering that this transaction caused competitive concerns.

Notes to the editor

  1. April 2021 G7 Digital Enforcer Summit G7 Digital and Technology Truck Ministerial Declaration..
  2. The G7 and guests will publish an overview of their approaches to improving competition in the digital market on Monday, November 29, 2021.
  3. Digital sector stakeholders who would like to be contacted about the DRCF work program JoiningUpOnFutureTech@ofcom.org.uk

CMA will host the first two days of the Digital Summit of the G7 Competition Head

SourceCMA will host the first two days of the Digital Summit of the G7 Competition Head

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