UK Proposes Power To 'Suspend, Block, Reverse' Tech Giants
By J. Edward Moreno (July 22, 2021, 9:55 PM EDT) -- The U.K. is proposing a new code of conduct for tech giants that will be enforced by its new Digital Markets Unit in a bid to cut anti-competitive behavior and boost British startups.
Under the proposal unveiled Tuesday, the DMU would have the authority to "suspend, block and reverse decisions" by technology companies it determines hold "substantial and entrenched market power." Those companies will be given "Strategic Market Status," which will require them to follow a new set of rules of "acceptable behaviour" with competitors in that sector.
The rules could potentially include provisions that prevent tech platforms from "pushing their...
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