The EU is adopting common rules for regulating Apple, Google and other big companies.

The Financial Times reports that European Union lawmakers have drawn up common regulatory rules for Apple, Google and other major companies in the digital economy. These rules will complement the Digital Markets Act and target companies with a capitalization of over 80 billion euros and at least one online service.

The purpose of this law is to fight the monopoly of large technological giants. The European Parliament hopes to adopt it in 2022. Given the conditions for the entry into force of this law, it will affect a lot of companies. In addition to the American Google, Amazon, Apple, Facebook and Microsoft, the Dutch and China’s Alibaba will also be affected, according to the Financial Times.

The new rules prohibit companies from prioritizing their services and using dominance to the detriment of competitors’ businesses. They are also expanding the powers of national antitrust regulators to control tech giants’ purchases of smaller companies – regulators believe such deals can be struck at a lower price to “kill” competitors.

MEPs also discussed a complete ban on targeted advertising, the main source of income for tech giants such as Google and Facebook. However, lawmakers did not take such a radical step – they only proposed tougher restrictions on this market, including rules to protect children from inappropriate content and stricter requirements for the transparency of algorithms.

Andreas Schwab, an MEP who discussed the bill, told the Financial Times that the EU is sending a signal to the market that “the game of unfair business practices in digital markets is over.”

The project must be approved by the European Parliament – it will be considered at a meeting of the body next week. After that, the package of amendments must be agreed with the EU member states, and only after that it will enter into legal force. According to the Financial Times, deputies expressed the hope that it will be adopted next year.

Last October, the Financial Times wrote about EU plans to list the largest IT companies subject to stricter antitrust rules.

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