Shearman & Sterling LLP | FinReg | UK Digital Regulation Cooperation Forum Publishes Report on Strengthening Digital Regulatory Cooperation
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  • UK Digital Regulation Cooperation Forum Publishes Report on Strengthening Digital Regulatory Cooperation

    05/04/2021
    The U.K. Digital Regulation Cooperation Forum has published a report on the measures that the U.K. Government may take to strengthen cooperation between digital regulators. The DRCF consists of the Competition and Markets Authority, Ofcom, the Information Commissioner's Office and the U.K. Financial Conduct Authority (although the FCA's views are not represented in this report because it only joined the DRCF in April 2021, after the report was commissioned). The U.K. Government asked the DRCF to produce the report to determine whether further measures were needed to support cooperation between regulators.
     
    The report proposes action in the following areas:
     
    • Supporting appropriate information sharing – the report recommends that the U.K. Government reviews the information sharing gateways between regulators to maximize the potential for regulatory collaboration and minimize legal risk in information sharing;
    • Embedding coherence and cooperation in the statutory framework for digital services – the report notes there is a risk that the current statutory framework may impede digital regulators' ability to cooperate effectively and deliver coherent solutions, in part because they are unable to give due weight to policy considerations outside their remit; embedding duties to consult and to cooperate in the statutory framework may also be appropriate; and
    • Providing transparency and accountability – the report confirms that the regulators will build on their existing approach of increasing public engagement and proposes that the Government considers mechanisms by which it may provide input on its strategic priorities as they relate to digital services and platforms.
     
    View the DRCF's report on strengthening digital regulatory cooperation.
     
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