The DSA and the DMA are here has been saved
The DSA and the DMA are here
New gamechanger laws for our digital space
The European Parliament held the final vote on one of the Digital Services Act (DSA) and the Digital Markets Act (DMA). A huge step forward in the Europe fit for a digital age program.
On Tuesday the 5th of July, Members of the European Parliament voted on two new pieces of legislation aimed at better protecting the fundamental rights of users online while also promoting a level-playing field for businesses. The Digital Services Package which includes the DSA and DMA passed its final vote and will soon be officially adopted across the European Union.
While the objective of the DSA is to ensure transparency, user safety and accountability for online platforms, the DMA is a competition law determining clear rules for how large online platforms can operate. Both pieces of legislation will have a considerable impact on business across Europe and probably the world by setting new standards for digital consumer business.
How much these new rules will impact your company depends on the type of online business, size of your operations and other specifics. Although the impact might not be exactly the same for everyone as with the GDPR, lessons should be learned from that era. Starting soon with understanding the new rules and assessing your situation is essential to prevent chaotic and last-minute situations.
EU’s digital ambitions
During the official press release, Thierry Breton, Commissioner for the Internal Market, stated that no other jurisdiction in the world has taken the courage and action to implement a combination of laws for fairness in markets and accountability of digital service providers. He added:
"We are finally building a single digital market, the most important one in the ‘free world'. The same predictable rules will apply, everywhere in the EU, for our 450 million citizens, bringing everyone a safer and fairer digital space.”
What to expect now?
After a very convincing vote by the European Parliament (more than 530 in favour, around 50 against) the Digital Services Package was adopted.
After the adoption by the Council in July (DMA) and September (DSA), the final texts will be published in the Official Journal of the EU and it will enter into force 20 days after.
While the DSA will apply after fifteen months or from 1 January 2024, whichever comes later, the DMA allows for a grace period of only 6 months before its application. That means time is of the essence.
Deloitte Risk Advisory follows all developments around the upcoming Digital Technology Regulations and will publish more around it when possible.
Do you want to know more about the implications of the DSA and what to take into consideration when approaching the legislation?
Click here to read our DSA blog.
Click here to read our DMA blog.