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Click here to see the summaryThe package of laws will also pave the way for more competition in some of the areas most closely guarded by the tech firms, including Apple Wallet and Google Pay. The Digital Markets Act (DMA), the second big package of EU laws to hit tech firms in two months, defines a series of obligations that gatekeepers need to comply with, including not engaging in anti-competitive practices. The DMA aims to undo the gatekeeper or controlling position that large tech companies have commanded in the last 10 years and gives the European Commission the power to conduct market investigations and design remedies if the firms fall out of line. The tech companies – including Apple, Google and Amazon – have six months to comply with a full list of dos and don’ts under the new laws, after which they could be fined up to 10% of their turnover. The laws will initially apply to six companies: Alphabet (which owns Google), Amazon, Apple, ByteDance (the owner of TikTok), Meta (Facebook, Instagram and WhatsApp) and Microsoft. He described the DMA as an “important milestone” that would put consumers and concerned parents back in the driving seat, guarding against abuse and endless hours of content aimed at children on the likes of TikTok. — Saved 70% of original text.