DMCC Act to make consumer protection fit for the digital age

Companies face new transparency requirements and turnover-linked fines. By Rebecca Cousin, Richard McDonnell and Richard Barker of Slaughter and May.

The Digital Markets, Competition and Consumers Act 2024 (DMCC Act) received Royal Assent on 24 May 2024, bringing in long-anticipated reforms aimed at forging a UK regulatory framework fit for the digital age. In doing so, the DMCC Act introduces major updates to UK competition and consumer protection laws and has been hailed as a “watershed moment in the way we protect consumers in the UK” by Sarah Cardell, Chief Executive of the UK Competition and Markets Authority (CMA).

The DMCC Act’s new digital markets regime has received much attention over recent months. Under that regime, firms designated as having “strategic market status” in respect of a digital activity will be subject to targeted conduct requirements imposed by the CMA for the purposes of fair dealing, open choices and/or trust and transparency. The CMA will also have the power to intervene in digital markets to promote dynamic competition and innovation, by imposing “pro-competitive interventions” on designated firms.

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