Oz Retailers & Brands Brace For Historic Tech Reform
Aussie retailers and brands are bracing for today’s historic tech reform report, spearheading new laws from the ACCC’s analysis of digital tech giant regulation (e.g. Facebook, Amazon and Google).
The landmark 600-word report will be handed down the Australian Competition and Consumer Commission (ACCC) today, eight months after its preliminary findings.
The report seeks to provide a clearer picture of the competitive impact of digital tech giants, plus their affect on news credibility, online search dominance (inc. retail services), and more.
The ACCC’s Digital Platforms Inquiry “crackdown” is considered a world-first, and follows Facebook’s recent $7 billion privacy violation fine.
Google is also facing an investigation from the US Department of Justice over anti-competitive behaviour, following over $13 billion in fines from European regulators.
The document is tipped to spearhead significant reform over digital tech giants in Australia, including new regulation over consumer and competition law, private consumer data collection plus more.
In December, the ACCC’s preliminary report suggested a separate regulator to oversee digital tech giants, with today’s landmark report tipped to offer more expansive recommendations, and spearhead new laws.
Several media companies have offered submissions to the ACCC, with News Corp Australia calling for a break-up of Google Australia – being both a digital ad seller and platform.
Regulation is hoped to ‘level the media playing field’ against Facebook and Google, removing commercial bias in online rankings, and safe-guarding consumer data.
The Australian government is tipped to set-up an advisory committee over the proposed reform, with the Communications and Treasury department also involved.