EU's Digital Markets Act Under Scrutiny: 1199 Amendments Debated
This week marks a significant step in the EU's digital regulation journey as the European Parliament's Internal Market and Consumer Protection Committee (IMCO) delves into 1199 amendments to the Digital Markets Act (DMA). The DMA, set to ensure fairness and contestability in Europe's digital economy, is now under scrutiny for potential adjustments that could impact its effectiveness and legality.
Among the amendments, some propose a regulatory dialogue between the Commission and designated gatekeepers through Amendment 861. This suggests a collaborative approach to ensure compliance with DMA obligations. However, other amendments raise concerns. Some seek to remove adjustment mechanisms and safeguards, risking disproportionate effects and potential legal challenges. Additionally, several amendments propose unrealistically short timelines for companies to comply, which could harm core platform services and users.
To strengthen enforcement, amendments suggest increasing fines for breaches of DMA obligations to up to 30% of a company's worldwide turnover. Meanwhile, the responsibility for implementing these regulations primarily lies with EU member countries, each required to designate at least one competent authority to enforce the rules, overseen by the European Commission's digital strategy framework.
As IMCO continues its debate on the DMA amendments, the EU's plans to regulate the digital economy remain a crucial focus. Balancing the need for effective regulation with the potential impacts on companies and users will be key. This week's discussions are a significant milestone in shaping the EU's digital future.
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