The ACCC is considering new regulations for big tech.

The ACCC is currently in the middle of its five-year Digital Platform Services Inquiry and is using this milestone to consider whether a new regulatory framework for the digital platform services markets is required to address numerous competition and consumer concerns. “The ACCC has growing concerns that enforcement under existing competition and consumer protection legislation, which by definition takes a long time and is focused on very specific issues, is insufficient to address the breadth of concerns raised by rapidly changing digital platform services,” according to a new report. “In light of these concerns, and given that the Digital Platform Services Inquiry is halfway through, the ACCC believes that now is an appropriate time to assess whether Australia’s current competition and consumer protection laws, including merger laws, are sufficient to address the competition and consumer harms that have been identified in relation to digital platform services.” The ACCC is blunt in its report, stating that “a few large digital platforms now hold very powerful positions, increasingly acting as gatekeepers between businesses and end-users.” This position confers enormous influence on the terms of trade and competitive dynamics in these markets, as well as on society and the economy more broadly.” The Treasurer must receive the report by September 30, 2022.