Facebook and Google may soon be forced to allow third-party developers to access its websites’ algorithms and back-end in a bid to protect consumers from data-hoarding.

The ACCC is preparing a report for Jim Chalmers, due in October, that will give recommendations on how to avoid online giants from becoming “gatekeepers”.

The report makes up one of a raft of ACCC recommendations concerning the entire digital industry, and will lead to the most significant changes to competition and consumer law since the ACCC was formed in 1995.

“We’ve identified characteristics of digital platform markets that facilitate and entrench significant market power,” said Tom Leuner, ACCC merger and digital general manager.

“So many people in society spend so much of their time living in the boundaries and conditions set by these digital platforms and interacting with the world, that if there is harm it is very far-reaching in its effect.”