On Friday, 24 May 2024, the UK Department for Science, Innovation and Technology (DSIT) announced that the Digital Markets, Competition and Consumers (DMCC) Act had completed its passage through Parliament after receiving Royal Assent.
The DMCC only applies to technology companies operating digital activities linked to the UK with Strategic Market Status (SMS), defined as having "substantial and entrenched market power" and a "position of strategic significance." The criteria for such classification include having a total value global annual turnover over £25 billion or a UK turnover above £1 billion.
The Act requires businesses to provide clearer information before consumers enter a subscription contract, remind consumers when their free trial or low-cost trial is ending, and ensure consumers can easily exit a contract.
Read the legislation in full here.
Additional legal analysis from Pinsent Masons.
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