Seven Takeaways from the UK Government’s Cybersecurity Regulation and Incentives Review
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- Building on the UK Government’s recently issued cybersecurity strategy, the UK Department for Culture, Media & Sport has published its Cyber Security Regulation and Incentives Review.
- While the Government has decided not to implement prescriptive cybersecurity regulations, businesses should not forget the demands of pre-existing and future data protection obligations, most notably the GDPR, on their cybersecurity programmes.
- Going forward, businesses which fail to implement appropriate cybersecurity systems and controls may face significant penalties from both data protection authorities and financial regulators.