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The Procurement Act of 2023: A Summary for Suppliers

The landscape of public procurement in the United Kingdom is primed for a significant shift in 2024 following the introduction of the Procurement Act 2023, which received Royal Assent earlier in 2023. The act, which comes...more

UK Financial Regulators Levy Nearly £50 Million in Fines for Bank’s Operational Resiliency Failures

The UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) on December 20, 2022, announced fines totaling £48.65 million ($59 million) on TSB Bank plc (TSB) for operational resiliency failures, after...more

UK DCMS Committee Launches Inquiry Into NFTs and Blockchain

The Digital, Culture, Media and Sport Committee (DCMS) of the UK Parliament published a call for evidence on the operation, risks, and benefits of non-fungible tokens (NFTs) and blockchain. The DCMS noted that digital assets...more

UK FCA, BoE, and PRA Publish Discussion Paper on Adopting AI in Financial Services

On October 11, the Bank of England (BoE), the Prudential Regulation Authority (PRA), and the UK Financial Conduct Authority (FCA) (together, the Supervisory Authorities) published a discussion paper (DP5/22) on the safe and...more

UK’s Financial Conduct Authority Publishes Its New 2021/22 Business Plan

The UK’s Financial Conduct Authority (FCA) published its 2021/22 Business Plan on July 15, setting out its future role, priorities, and how it intends to deliver them. The FCA’s website contains a summary and full copy of the...more

Considerations for Updating Standard Contractual Clauses

On June 4, 2021, the European Commission adopted its long-anticipated updated Standard Contractual Clauses (New SCCs) for use by organizations transferring personal data outside of the European Economic Area (EEA) to third...more

UK Government Requests Views on Supply Chain Cybersecurity

The United Kingdom’s Department for Digital, Culture, Media & Sport (DCMS) is requesting views on supply chain cybersecurity, which it will look to incorporate into its new National Cyber Security Strategy....more

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