The Digital Markets Act (DMA) will require “gatekeeper” platforms to give merchants more data about ad performance; make their messaging services interoperable; and allow app developers more access to smartphone features and take payments via third-party processors. It will apply to firms that run a marketplace, app store, search engine, social network, cloud or ad service. They must also have a market cap of at least €75 billion ($103 billion) or €7.5 billion in EU revenue as well as a minimum of 45 million monthly users and 10,000 business users in the EU. (The Logic)

Talking point: The European Commission will designate gatekeepers and enforce the regulations, levying fines of up to 20 per cent of global earnings for repeat offences. EU legislators pointed to a preponderance of cases against tech giants for anti-competitive practices that the legislation seeks to address. Apple, Google and Meta have claimed the DMA risks hurting consumer-privacy protections and choice. Changes made to comply with the new European regime would likely spill over into other jurisdictions. In Canada, some competition-policy researchers have called for similar rules to prevent firms from prioritizing their own products over those of third parties and to make them open up app-store payment processing.