By ET Bureau - December 12, 2019 1 Mins Read
Australia asked Facebook and Google to follow the new rules, to ensure that they do not misuse their market power and damage competition. Otherwise, the Australian government will impose new controls over them.
Scott Morrison, Australian PM, said the Australian Competition and Consumer Commission (ACCC) would create a code of conduct to address complaints. More prominent technology companies have a significant influence on advertising since it is the main income generator for local media firms.
Morrison said, “I want us to be the model jurisdiction in the world for how we are dealing with digital platforms, social media platforms.” The rules will ensure that the substantial market power would not be used to lessen competition in media and advertising services markets.
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