Business Standard

New rules for US tech giants to come into force in October: EU's Vestager

Tough new rules targeting US tech giants agreed late on Thursday are expected to come into force in October, EU antitrust chief Margrethe Vestager said

Google in court to appeal European Union's 2018 Android antitrust case
Premium

Reuters Brussels
Tough new rules targeting U.S. tech giants agreed late on Thursday are expected to come into force in October, EU antitrust chief Margrethe Vestager said on Friday.

The rules, which Vestager proposed a year ago, are called the Digital Markets Act and set out a list of dos and don'ts for Amazon, Apple, Meta, Alphabet unit Google and Microsoft.

Fines for violations range from 10% of a company's annual global turnover to 20% for repeat offenders which could face an acquisition ban.

"And with the processes foreseen, these pieces of legislation, well, they will have been voted in and publicised in the Official

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 25 2022 | 2:38 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com