Get ready for the Digital Markets Act with consent management
The European Commission has enacted the Digital Services Act Package, which includes the Digital Markets Act. Companies required to comply will need to do so by March 6, 2024. The Act doesn’t just affect tech giants operating in the EU. Download our checklist to learn what you need to know to get ready for the Digital Markets Act.
What is the Digital Markets Act (DMA)?
The Digital Markets Act (DMA) is a regulation developed by the European Commission to address current and developing challenges in digital markets in the European Union. It aims to address the dominance of big tech platforms, foster innovation and competition, and further protect user privacy.
Who is required to comply with the Digital Markets Act?
The Digital Markets Act applies to companies operating in the European Union, and that process the personal data of EU residents.
The European Commission has also designated six big tech “gatekeeper” companies, which have specific obligations under the law.
Third-party companies that use the digital platforms and services of the gatekeepers will also likely have Digital Markets Act compliance responsibilities, as they are part of the digital data ecosystem.
What are the requirements of the Digital Markets Act?
Among their responsibilities, gatekeepers are required to increase interoperability and transparency and data access to third parties, in addition to ensuring data privacy practices. They are prohibited from engaging in anti-competitive practices, and cannot demonstrate preference for their own or partners’ products or services.
What are the benefits of the Digital Markets Act?
The Digital Markets Act will foster competition and innovation for companies in digital markets in the EU. It will also bring better data privacy protection and choice to consumers, regarding both their user data and their preferences in products and services.
Does Digital Markets Act compliance require consent management?
For many digital companies operating in the EU, it will. The gatekeepers will require third parties using their platforms and services for business operations to be able to prove that they obtain valid user consent for access to personal data. These companies will also need to be able to pass this information to companies like Google to retain access to the platforms for functions like advertising.
Don’t risk your access to valuable user data or advertising revenue. Signaling valid consent is critical to comply with Digital Markets Act requirements. Get the best CMP to be ready for DMA compliance today.
Download our Digital Markets Act checklist now.