Legislation – Digital Markets, Competition and Consumers Act 2024
Which version?
Latest available (Revised)
Original (As enacted)
Changes to legislation:
There are currently no known outstanding effects for the Digital Markets, Competition and Consumers Act 2024, Cross Heading: Regulatory coordination and information sharing.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Part 1Digital Markets
Chapter 8Administration etc
Regulatory coordination and information sharing
107Coordination with relevant regulators
(1)
The CMA must consult the FCA on a proposal to exercise a regulatory digital markets function in respect of a matter where the CMA considers the matter is a matter in relation to which the CMA and the FCA may have concurrent functions (see sections 234I (functions under Part 4 of EA 2002) and 234J (functions under CA 1998) of the Financial Services and Markets Act 2000 (as amended by this Act) (“FSMA”)).
(2)
The CMA must consult OFCOM on a proposal to exercise a regulatory digital markets function in respect of a matter where the CMA considers the matter is a matter in relation to which the CMA and OFCOM may have concurrent functions (see sections 370 (functions under Part 4 of EA 2002) and 371 (functions under CA 1998) of the Communications Act 2003 (as amended by this Act)).
(3)
The CMA must consult the Information Commissioner on a proposal to exercise a regulatory digital markets function in a manner that the CMA considers is likely to have a material adverse effect on the ability of the Information Commissioner to exercise functions under—
(a)
the data protection legislation,
(b)
the Privacy and Electronic Communications (EC Directive) Regulations 2003 (S.I. 2003/2426), or
(c)
the Network and Information Systems Regulations 2018 (S.I. 2018/506).
(4)
The CMA must consult the Bank of England on a proposal to exercise a regulatory digital markets function in a manner that the CMA considers is likely to have a material adverse effect on the ability of the Bank of England to advance the Financial Stability Objective as defined in section 2A of the Bank of England Act 1998.
(5)
The CMA must consult the PRA on a proposal to exercise a regulatory digital markets function in a manner that the CMA considers is likely to have a material adverse effect on the ability of the PRA to advance—
(a)
its general objective under section 2B of FSMA, or
(b)
its insurance objective under section 2C of FSMA.
(6)
The duties in subsections (1) to (5) apply only to the extent that the CMA considers that compliance does not impose a burden on it that outweighs the benefits of compliance.
108Recommendations to the CMA
(1)
The FCA or OFCOM may make a recommendation to the CMA where they consider that the CMA should exercise a regulatory digital markets function in relation to an undertaking and a digital activity.
(2)
A recommendation under subsection (1) must—
(a)
describe the undertaking, the digital activity, and the regulatory digital markets function to which it relates, and
(b)
be given to the CMA in writing.
(3)
A recommendation under this section must be accompanied by a statement of reasons for the recommendation.
(4)
Within the period of 90 days beginning with the day on which it receives a recommendation, the CMA must—
(a)
give notice to the regulator that made the recommendation—
(i)
setting out the action that the CMA has taken or intends to take in response to the recommendation, and
(ii)
including the reasons for its decision, and
(b)
publish a summary of the notice.
109Information sharing
(1)
“Part 1 of the Digital Markets, Competition and Consumers Act 2024.”
(2)
“Privacy and Electronic Communications (EC Directive) Regulations 2003 (S.I. 2003/2426).”;
““Regulation (EU) No 910/2014 of the European Parliament and of the Council of 23 July 2014 on electronic identification and trust services for electronic transactions in the internal market and repealing Directive 1999/93/EC.”;
““Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data (United Kingdom General Data Protection Regulation).”;
““Part 4 of the Network and Information Systems Regulations 2018 (S.I. 2018/506).”;
““Data Protection Act 2018.”;
““Part 1 of the Digital Markets, Competition and Consumers Act 2024.”