The UK Government passed the long-awaited Digital Markets, Competition and Consumers Act (“Act”) on 24 May 2024. Some provisions of the Act take effect immediately (for example, new controls over foreign ownership of newspapers), but most provisions will enter into force in Autumn this year following the conclusion of a public consultation on important legislative guidance. The Act introduces radical new digital sector regulation – akin to the European Union’s Digital Markets Act – in addition to expanding the UK Competition & Markets Authority’s consumer protection powers and introducing significant reform of the UK competition regime.
