The EU Institutions agreed on improvements for fairer online platforms' trading practices
The new rules, which are part of the Digital Single Market strategy, will cover all the actors involved in the digital markets, from world giants to small companies and start-ups. The rules will favour businesses participation in the market as they will ban certain unfair practices, such as non-motivated account suspensions, and also push for more transparency regarding disclosure of data and ranking by marketplaces and selling platforms. Also, the new rules include a set of practices for dispute resolution.
The new rules will apply from 2020, and then they will be subjected to a review in 2022. EU has also set up a dedicated Online Platform Observatory to monitor the evolution of the market and the effective implementation of the rules.