The UK is getting a new tech regulator to rival Google and Amazon

The UK is getting a new tech regulator to rival Google and Amazon<br><br>The Competition and Markets Authority (CMA) has announced a new pro-competition regime for the tech industry. The UK government is introducing legislation that aims to end Google and Amazon's dominance by forcing big tech companies to give smaller rivals more opportunities to compete.<br><br>The Digital Markets Unit (DMU) will have the power to enforce a new code of conduct to ensure that big tech companies no longer abuse their market position. The new code of conduct, known as the Digital Markets, Competition and Consumers Bill, is expected to become law in Spring 2024.<br><br>Once the law is passed, the CMA will have the power to impose fines of up to 10% of a company's global turnover for breaches of the code, as well as up to 5% of a company's global turnover for each day the breach persists.