Australia to develop code of conduct for likes of Facebook and Google

Australia said on Thursday its competition regulator will develop a voluntary code of conduct governing bargaining power concerns between digital platforms and media businesses.

In July, Australia said it would create the world's first dedicated office within an antitrust regulator to police Facebook Inc and Google.

Extending the reach of the Australian Competition Consumer Commission (ACCC), the country's government said it will task the regulator will developing guidelines to ensure substantial market power is not used to lessen competition in media and advertising services markets.

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