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UK Digital Markets, Competition and Consumers Act becomes law

In late May 2024 the UK Digital Markets, Competition and Consumers Act (the Act) was passed by Parliament.

Similarly to the EU Digital Markets Act, it gives the Competition and Markets Authority the power to regulate organisations which it designates as having “Strategic Market Status”. This is accompanied by new fining powers of up to 10% of annual turnover (or £300,000, whichever is higher).

The Act also makes amendments to competition law more broadly, focusing on (amongst other areas) mergers and consumer protection.

You can find the text of the Act here.

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