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Britain plans to create watchdog to police Big Tech companies including Google, Facebook
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LONDON — Britain plans to create a new watchdog to police Big Tech companies including Google and Facebook to counter their market dominance and prevent them from exploiting consumers and small businesses.
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The U.K. government said Friday that it's setting up a “Digital Markets Unit" next year to enforce a new code of conduct governing the behavior of tech giants that dominate the online advertising market.
The Digital Markets Unit, scheduled to launch in April, will oversee a new regulatory regime for tech companies that's aimed at spurring more competition.
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The measures were foreshadowed in findings by former Obama economic adviser Jason Furman, who was commissioned by the U.K. Treasury to carry out a review of the digital economy.
It's part of a wider push by governments in the U.S. and Europe to constrain the power of big tech companies amid concern about their outsize influence. The European Union this week unveiled proposals to wrest control of data from tech companies and is set to release details next month of a sweeping overhaul of digital regulations aimed at preventing online gatekeepers from stifling competition. In the U.S., authorities are pursuing an antitrust case against Google and lawmakers have proposed breaking up big tech companies.