Tashkent, Uzbekistan (UzDaily.com) -- The British government, based on a study by the country’s antimonopoly authority (CMA), announced plans to limit the monopoly position of tech companies in the field of Internet services (digital advertising, search services and social media marketing - SMM).

In particular, London plans to take the following measures.

First, the Antitrust Authority recommends that the government develop a Code of Conduct to regulate Internet platforms that have strategic market status. The antitrust authority believes that companies like Google and Facebook have a strategic advantage in the online advertising markets. This is driven by a combined 80% share of the two companies in the local advertising market in 2019 (US$15 billion). print media, whose revenues have plummeted as advertisers move to digital platforms.

Second, in April 2021 it is planned to create a new regulatory body - a division for digital markets as part of the country’s antimonopoly department. The new unit: 1) will have to implement the above-mentioned code of conduct; 2) suspend and block decisions of technology corporations that violate antitrust requirements, as well as issue orders to them in accordance with the code. If companies do not comply with the rules, the regulator can fine them, although the maximum amount of the fine has not yet been determined.

The UK Cabinet of Ministers believes that if these measures are correctly implemented, they will stimulate innovation, economic growth, healthier advertising sector and increase the competitiveness of the IT industry.

Thus, the UK joins a group of countries (USA, Germany, France, etc.) that are taking measures to limit the dominant positions of large IT companies.

In general, according to experts, there is a growing consensus in developed countries that the concentration of power among a small number of technology companies is holding back the growth of this sector.

British government announces restrictions on monopoly technology companies’ on internet services

Tashkent, Uzbekistan (UzDaily.com) -- The British government, based on a study by the country’s antimonopoly authority (CMA), announced plans to limit the monopoly position of tech companies in the field of Internet services (digital advertising, search services and social media marketing - SMM).

In particular, London plans to take the following measures.

First, the Antitrust Authority recommends that the government develop a Code of Conduct to regulate Internet platforms that have strategic market status. The antitrust authority believes that companies like Google and Facebook have a strategic advantage in the online advertising markets. This is driven by a combined 80% share of the two companies in the local advertising market in 2019 (US$15 billion). print media, whose revenues have plummeted as advertisers move to digital platforms.

Second, in April 2021 it is planned to create a new regulatory body - a division for digital markets as part of the country’s antimonopoly department. The new unit: 1) will have to implement the above-mentioned code of conduct; 2) suspend and block decisions of technology corporations that violate antitrust requirements, as well as issue orders to them in accordance with the code. If companies do not comply with the rules, the regulator can fine them, although the maximum amount of the fine has not yet been determined.

The UK Cabinet of Ministers believes that if these measures are correctly implemented, they will stimulate innovation, economic growth, healthier advertising sector and increase the competitiveness of the IT industry.

Thus, the UK joins a group of countries (USA, Germany, France, etc.) that are taking measures to limit the dominant positions of large IT companies.

In general, according to experts, there is a growing consensus in developed countries that the concentration of power among a small number of technology companies is holding back the growth of this sector.