EU Shifts Focus from Fines to Compliance in Big Tech Regulation
The European Union's (EU) approach to regulating Big Tech has changed gear from imposing hefty fines to focusing on compliance, but this shift raises concerns that dominant tech platforms may become even more entrenched in the market.
This concern stems from the EU's recent emphasis on ensuring large technology companies adhere to rules and regulations rather than solely relying on fines as a means of enforcement. The change comes after the EU fined Google €890M for breaching Big Tech rulebook, requiring it to overhaul how it ranks rivals in search results and polices its app store.
The shift from fines to compliance has sparked debate about whether this approach will be effective in tackling market power issues. Some argue that the market power of dominant tech platforms could become more entrenched if companies are not held accountable through significant fines, which can serve as a deterrent against future non-compliance.