The Near Memo EU passes Digital Markets & Digital Services Acts to rein in big tech & prevent fraud & deception
The Digital Markets Act attempts to create a new framework for understanding and regulating digital monopolies to improve competitiveness and create opportunities for smaller online businesses. Amongst its targets: self preferencing, access to alternative payment systems and messaging services interoperability. The fines for non-compliance are a non-trivial 10% of annual sales.
Dark patterns that mislead consumers will be banned, ads that target children or on the basis of religion, gender, race and political opinions will also be banned. “Users will have new rights, including a right to complain to the platform, seek out-of-court settlements, complain to their national authority in their own language, or seek compensation for breaches of the rules.”
The Near Memo is a weekly conversation about Search, Social, and Commerce: What happened, why it matters, and the implications for local businesses and national brands.
EP 72 Near Memo
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