Russian legislature to attempt making foreign IT companies open local offices

On 21 May 2021, a new draft bill concerning foreign IT companies operating in Russia was submitted to the State Duma. According to the text of this proposal, owners of foreign Internet resources with a daily audience exceeding 500 000 Russian-based users will be required to (1) establish a Russian legal entity or (2) open … Read more


After a series of delays, on 13 May 2021, the UK Government unveiled its proposed legal framework to introduce tough new measures requiring social media companies and technology companies, among others, to protect online users. The long awaited Online Safety Bill (the “Bill“) is a comprehensive package which seeks to combat illegal and harmful practices … Read more

UK financial services regulator sets out expectations on outsourcing and third party risk management

At the end of March, the UK Prudential Regulation Authority (PRA) published the Policy Statement (PS7/21) and the Supervisory Statement (SS2/21) which set out its expectations of PRA-regulated firms regarding outsourcing and third party risk management. The publications are part of the wider operational resilience policy package released jointly with the Bank of England (the … Read more

EU Commission releases regulatory proposal to increase trust in AI

Key takeaways The European Union Commission released its long awaited proposed regulation of artificial intelligence on 21 April 2021 (see press release here), which sets out a risk-based approach to regulation designed to increase trust in the technology and ensure the safety of people and businesses above all. The regulation has extra-territorial scope meaning that … Read more

Accelerating digitisation of UK financial services: Bank of England and HMT announce CBDB Taskforce amid new plans

On 19 April 2021, the Bank of England (BoE) and HM Treasury (HMT) released a statement announcing the joint creation of a Central Bank Digital Currency (CBDC) Taskforce. The Chancellor has also announced ambitious and complementary plans to encourage growth of UK fintechs and “cement the UK’s position as the world’s pre-eminent financial centre.” These … Read more

The ‘Ten Tech Priorities’ behind the UK’s 2021 Digital Strategy

In March 2021, the UK Government unveiled its ‘Ten Tech Priorities’ that will form the foundation of the UK Digital Strategy. The priorities are high level but are nonetheless useful guides to the UK government’s key areas of focus for tech in the post-pandemic era. Ten Tech Priorities 1. Rolling out world-class digital infrastructure nationwide … Read more

Budget 2021 – Investment in Innovation

In what has been described as the most important budget for business in a generation, the Chancellor of the Exchequer, Rishi Sunak, presented the 2021 budget to Parliament on 3 March 2021. (Our recent briefing on the Spring 2021 Budget can be found here). At the same time as publishing the Budget statement, the government … Read more

The Final Report from the Telecoms Diversification Taskforce

The Telecoms Diversification Taskforce (Taskforce) has published its Report which sets out recommendations to deliver the Government’s ambitions for 5G supply chain diversity. Key recommendations of the Report Working via telecoms standards-setting bodies to encourage best practice in security and open networks. Using policy to create the right environment for diversification in the supply market … Read more