Venture Insights - Australian Social Media Age Regulation: Turning Principle into Action

BRIEF: Australian Treasury’s regulation proposal signals tougher approach to platforms

Abstract: This week the Australian Treasury released a Proposal for a new legislative regime to regulate economic power of digital platforms. The proposed framework is digital platform-specific, and would introduce new ex ante provisions targeting anti-competitive behaviours such as self-preferencing, tying, and barriers to consumer switching. The proposal is in line with European approaches. A successful outcome will help to address excessive market power and help to maintain competitive markets and productivity growth.