The Digital Markets, Competition and Consumers Act 2024 is a significant piece of legislation in the UK designed to modernise and strengthen regulations in digital markets, enhance competition, and provide greater consumer protection. This Act responds to the challenges and opportunities presented by digital technology and platforms, aiming to curb the dominance of tech giants, boost fairness for businesses and consumers, and ensure the sustainability of competitive markets in the digital age.
The Digital Markets, Competition and Consumers Act 2024 represents a transformative approach to regulation in the digital economy, offering a comprehensive framework that balances the promotion of competition, the protection of consumers, and the encouragement of innovation. Businesses affected by this Act must undertake serious review and restructuring of their practices to align with the new legal landscape, ensuring they not only comply with the regulations but also seize the opportunities these changes may bring.
This Act notably introduces:
