ICO Publishes Its Strategic Approach to Regulating AI
On 30 April 2024, the UK’s Information Commissioner’s Office (“ICO”) published its strategic approach to regulating artificial intelligence (“AI”) (the “Strategy”), following the UK government’s request that key regulators set out their approach to AI regulation and compliance with the UK government’s previous AI White Paper (see our previous blog post here). In its Strategy, the ICO sets out: (i) the opportunities and risks of AI; (ii) the role of data protection law; (iii) its work on AI; (iv) upcoming developments; and (v) its collaboration with other regulators. The publication of the ICO’s Strategy follows the recent publication of the Financial Conduct Authority’s (“FCA”) approach to regulating AI.
UK Publishes Cyber Governance Code of Practice for Consultation
On 23 January 2024, the UK government published its draft Cyber Governance Code of Practice (the “Code”) to help directors and other senior leadership boost their organizations’ cyber resilience. The draft Code, which forms part of the UK’s wider £2.6bn National Cyber Strategy, was developed in conjunction with several industry experts and stakeholders – including the UK National Cyber Security Centre. The UK government is seeking views from organizations on the draft Code by 19 March 2024.
SEC’s Cybersecurity Disclosure Rules Are Here. Is Your Company Ready to Comply?
Companies are facing more attacks on their information systems. And, as their cyber risk skyrockets, the SEC has stepped in with new regulations, telling businesses what to disclose about these incidents — and requiring detailed disclosures on cyber risk management more broadly. With the deadline for compliance fast approaching, businesses are scrambling to mitigate their legal risk and comply with regulations that some say may be an overreach.
