Beginning in 2021, the United Kingdom (UK) will impose new laws on Google and Facebook, aimed at restricting firm domination in the market.
The rules open up more opportunities for consumers to control their data including helping small businesses to grow and ensuring that there is no fierce competition between new businesses and large competitors.
According to the Competition and Markets Authority (CMA), in 2019 the two firms had contributed about 80% of the £ 14 billion (RM 67.9 billion) in online advertising.
Based on the new code, there will be a clear notion for powerful firms, representing acceptable behavior when interacting with competitors and consumers.
In fact, digital advertising-sponsored platforms demand to be more transparent about their services and how they use user information.
The code will be enforced by a new unit, Digital Markets Unit under the CMA.
They have the right to restrict, defer or reverse the decisions of technology firms and impose financial penalties for legal offenses.
The new law may also affect the media industry which has lost its advertising revenue from Facebook and Google.
