As the UK Government has recognized, cyber incidents—such as Jaguar Land Rover, Marks and Spencer, Royal Mail and the British Library—are costing UK businesses billions annually and causing severe disruption.
The Government recognizes that cybersecurity is a critical enabler of economic growth (“we cannot have growth without stability”), and that the current laws have “fallen out of date and are insufficient to tackle the cyber threats faced by the UK.” Accordingly the UK Government this week published its long-awaited Cyber Security and Resilience Bill (the “Bill”), which will amend the existing Network and Information Systems Regulations 2018 (the “NIS Regulations”), and grant new powers to regulators and the Government in relation to cybersecurity.
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Source: Covington
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