U.K. to launch new watchdog next year to police digital giants

• The new unit will be part of the Competition and Markets Authority, which published in July a report on online platforms and digital advertising markets, and will start operating in April 2021.
• The upcoming "code of conduct" the new unit will create and enforce will establish parameters for the expectations users can have from these services and promote greater data portability, transparency, and even more advertising choice for users.
• Much of how how the unit will operate, the new regulations, and the penalties still need to be established.

The big picture: Meanwhile, U.S. regulators have filed or are working on antitrust cases against these same companies, while the European Union unveiled this week new regulations to give users more control over their data.