EU Legislators Reach Agreement On Digital Markets Act

The EU Parliament and Council reached political agreement on the Digital Markets Act (DMA) late on Thursday night. The Commission has been quick to welcome the agreement, stating that the DMA "will bring fairer conditions to consumers and businesses for many digital services across the EU" (see Commission Press release).

Although the DMA relates to activities in the EU, it is likely to influence the approach of companies and regulators in other jurisdictions. In a press conference today, Commission Executive Vice President Margrethe Vestager emphasised that "This is a global movement, that is really good... We hope our take on [digital markets] will inspire all over the planet". Andreas Schwab, the European Parliament's rapporteur on the DMA file, commented that "The agreement ushers in a new era of tech regulation worldwide" (see Council Press release).