The Digital Markets Act is the EU’s new law to make the digital sector fairer and contestable. In order to do so, the Digital Markets Act (“DMA”) establishes a set of narrowly defined objective criteria for qualifying a large online platform as a so-called “gatekeeper”. Only “gatekeepers” will have to comply with the do’s and don’ts listed under the DMA.
The DMA is among the first initiatives to comprehensively regulate the gatekeeper power of the largest digital companies.
When and how was the agreement reached?
The political agreement on the new law was reached in the evening of 24 March 2022 by the European Parliament and the Council (representing the 27 EU Member States). The agreement between the two institutions brought to speedy conclusion a 15-month long legislative debate triggered by the European Commission’s proposal for a Digital Markets Act of December 2020.
What does the final text look like?
The text is being finalised and translated. It still needs to be adopted by the European Parliament and the Council.
The latest provisional public version of the legislation is available here. In addition to this, the press releases by the European Parliament and the Council provide a good overview of the relevant do’s and don’ts that gatekeepers will have to respect.
We expect that the text of the DMA will be adopted in September or October 2022.
"What we want is simple: Fair markets also in digital. We are now taking a huge step forward to get there - that markets are fair, open and contestable. Large gatekeeper platforms have prevented businesses and consumers from the benefits of competitive digital markets. The gatekeepers will now have to comply with a well-defined set of obligations and prohibitions. This regulation, together with strong competition law enforcement, will bring fairer conditions to consumers and businesses for many digital services across the EU."