The Digital Markets Act receives strong endorsement from the EU Parliament Committee
The EU Parliament Committee strongly endorses the Digital Markets Act, updated in May 2022 to regulate online platforms acting as gatekeepers. The Act targets companies exceeding specific financial thresholds and user numbers to address unfair practices, with a legislative vote expected in July 2022 for the Act to come into force.
The EU Parliament’s Internal Market Committee endorsed the provisionally agreed upon Digital Markets Act (DMA). The Act has been updated on 11 May 2022 since its initial introduction by the EU Commission in December 2020. The definition of gatekeepers now concerns online platforms, including search engines:
- With an EU turnover exceeding 7.5 billion euros or a fair market value exceeding 75 billion euros; AND
- With at least 45 million monthly end-users and 10,000 annual business users.
The overwhelming majority (43 in favour, 1 against, and 1 abstain) in the Parliament showcases a strong will of the legislators against the unfair practices of gatekeepers. The DMA, envisioned to be voted in July 2022, will enter into force 20 days following the EU Official Journal publication. The provisions will start to apply six months thereafter.
Source: The European Parliament