- November 23, 2022
- November 23, 2022
On November 23, 2022, the Aspen Institute Germany and Telefónica Germany hosted a Digital Dish on “Competition and Regulatory Challenges in Digital Markets” with Andreas Mundt, President of the German Competition Authority, Michael König, Adviser Digital Markets Act, European Commission, Dr. Julia Pohle, Research Fellow in the group ‘Politics of Digitalization’, Berlin Social Science Center (WZB), Dennis Kaben, Legal Director Google Germany GmbH, and moderated by Dr. Stormy-Annika Mildner, Executive Director, Aspen Institute Germany.
The rise of big online platforms and digital transactions has profoundly changed the way we consume and interact. While customers benefit from new digital services and products, big tech platforms’ business models, including networks effects and their dependence on personal data, pose serious market power issues. Often seen as a standard-setter in privacy and data protection in the digital economy, the European Union now seeks to curb the power of big tech companies to ensure fair competition on the internet.
Following successful negotiations among the Council of the EU and the European Parliament, the European Council has formally adopted the “Regulation on contestable and fair markets in the digital sector” on July 18, 2022. Commonly known as the Digital Markets Act (DMA), the legislation sets the scene for a new era of European tech regulation to limit the market power of big online platforms. It aims to prevent so-called gatekeepers from abusing their power positions in blocking other companies’ access to online users. However, critics have already warned about discriminatory practices against U.S. American companies and potential privacy and security vulnerabilities.
How can we ensure complementarity between national competition law and the DMA? To what extent can the standard-setting powers of the EU ensure a future-proof regulation and even improve democratic legitimacy? Does the DMA adequality protect consumers from data exploitation? How can the transatlantic partners cooperate on industrial policy throughout the implementation of the DMA? Together with a small group of selected participants, the event discussed these and many more questions over a light lunch.