European Parliament Allows For Update Of The EU’s Rules For Digital Firms

The European Parliament has given the green signal for the update of the EU’s current rules in place for digital businesses.

For starters, we can expect to see the DMA introducing a new set of ex-ante regulations that will reportedly assist in gatekeeping a number of markets where tech giants function. This is being done to ensure healthy and fair competition is held among firms, whether small scale or large scale.

Similarly, the rules will be setting the standards for a number of responsibilities across the framework to ensure no illegal behavior is conducted.

We first saw these regulations come into play towards the end of the year 2020. Hence, it wouldn’t be wrong to say that the adoption was quite quick. And that just goes to show how much lawmakers have agreed on the subject, showing consensus for more stringent protocols regarding various online services.

These new policies are expected to come into play by next year, once the entire formal proceedings are allowed to move ahead. Meanwhile, the EC who is responsible for drafting those laws has allowed for files to be submitted and that is definitely something worth cherishing, which many believe is nothing less than historic.

In the parliament, the vote was 588 in number for those in favor of the Digital Markets Act. On the other hand, those voting for the DSA managed to fall short, reaching 539.

The EVP for the Commission also applauded the efforts of the European Parliament for taking on board both the DSA and the DMA. As of now, there are just a few more steps left for the completion of the process, moments after which we shall see them being published in the official journal belonging to the EU.

The EC is going to have a huge enforcement role in terms of both regulations. For instance, now, it will be the biggest enforcer for the DMA while being the lead for the DSA.

Clearly, big challenges mean big responsibilities and that’s probably one of the many reasons why you could be seeing the European Commission increase its workforce as early as next year.

Another major point that we’ve come to learn about is how the European Commission is willing to increase the transparency of its governance while taking these two acts on board. Hence, be prepared to see some new algorithms take center stage that manages to achieve just that.

Clearly, the challenge is mega but with the right experience and talent on board, there is no reason why the new decision can’t reach new heights of success.

Sources: 1 / 2 / 3.

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