Led by Harvard Professor Jason Furman, the panel was tasked
with examining competition in digital markets by Chancellor
Phillip Hammond.
The CMA has considerable experience of applying competition
and consumer law in digital markets. The recent launch of
the CMA’s Data, Technology and Analytics unit has increased
its understanding of how firms use data and algorithms and
what implications this might have for consumers and
competition – an area of focus for the panel’s
recommendations.
A number of recent merger investigations in the technology
sector have also seen the CMA closely scrutinise the
potential impacts on innovation and competition in digital
markets.
Andrea Coscelli, CMA Chief Executive, said:
The digital revolution has brought positive change to
people across the UK, such as improved innovation and
increased choice, but also new forms of consumer
detriment. The CMA is at the forefront of tackling these
issues.
Technology is transforming the economy and creating new
challenges which require a response. The expert panel’s
report provides invaluable insight into these challenges
and how they might be addressed by updating the UK
competition framework.
Many of the proposed reforms to the competition regime
announced last month by CMA Chairman are supported by the
panel’s recommendations. The CMA now stands ready to assist
the government as it considers the recommendations further
and formulates its response.
The CMA has also been considering whether to undertake work
in the digital advertising market, as recommended today by
the panel’s report. However, its ability to launch new
projects is heavily dependent on the outcome of EU Exit
negotiations.
