Regulatory update - March 2021
Welcome to the March edition of the Regulatory update, which pulls together recent developments from across the UK’s regulators – to help you navigate the regulatory maze.
In a month that has seen the first step taken along the Government’s lockdown roadmap, the regulators have been making strides too. The HSE has bolstered its ability to carry out more on-site inspections through hiring private firms for first time in history. The European Commission has issued draft adequacy decisions that will allow continued free flow of data between the UK and EU saving UK business an estimated £1-1.6bn in potential additional compliance costs. However, the SFO has suffered a significant loss at the Supreme Court with the landmark ruling that it cannot compel foreign companies with no presence in the UK to hand over documents held outside of the jurisdiction.
I hope you enjoy reading this latest update. Please do not hesitate to contact me, or your normal RPC contact, if you would like to discuss any of the topics highlighted or have any suggestions for areas you would like to see in future updates.