Alphabet Faces UK Move Against Big Tech – Investopedia

New Digital Markets Unit (DMU) targets ‘predatory practices’ with huge fines

The Google unit of Alphabet Inc. (GOOGL, GOOG) faces heightened regulatory challenges in the United Kingdom, which is planning to launch a new Digital Markets Unit (DMU) with powers to root out “predatory practices” of big tech firms. With fines that can rise to 10% of global revenues, plus additional penalties of 5% of daily global revenues for each day that an offense continues, the potential exposure could rise to tens of billions of U.S. dollars for leading players such as Alphabet.1

To be housed within the Department for Digital, Culture, Media and Sport (DCMS), the DMU will be charged with increasing competition among tech firms and applying rules that also aim to give users more control over their data. Additionally, the U.K. government stated, “Senior managers will face civil penalties if their firms fail to engage properly with requests for information.”1

The proposed new move against the power…

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