DMA Final Text Approved in European Parliament
July 5, 2022
On July 5, 2022, the European Parliament approved the final text of the Digital Markets Act (DMA), by 588 votes to 11, marking the penultimate step before the DMA enters into force.
The DMA now needs to be ratified by EU ministers, who will vote on July 18. The DMA is likely to enter the EU’s Official Journal in October, which means the behavioural rules will kick in early-to-mid 2024.
The DMA marks a paradigm shift in the regulation of digital markets, giving the European Commission unprecedented powers to regulate leading digital platforms and setting a global standard for other jurisdictions that are developing similar rules. The DMA targets platforms that operate as gatekeepers between businesses and users, hold an “entrenched and durable position,” and operate a core platform service (CPS).
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