Shearman & Sterling LLP | FinReg | UK Publishes Post-Brexit Cyber Sanctions Regulations
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  • UK Publishes Post-Brexit Cyber Sanctions Regulations

    The U.K. Government has published the Cyber (Sanctions) (EU Exit) Regulations 2020 and an explanatory memorandum. The Regulations are made under the Sanctions and Anti-Money Laundering Act 2018, which was introduced to enable the U.K. Government to implement international sanctions following its departure from the EU. The majority of the SAMLA provisions entered into force on November 22, 2018. The purpose of the Regulations is to ensure that the U.K. has an effective cyber sanctions regime at the end of transitional period (currently scheduled for December 31, 2020) as part of the U.K.'s exit from the EU.

    The EU's cyber legislation has effect in the U.K. through directly applicable EU regulations and related U.K. regulations. The Regulations will revoke and replace Council Regulation (EU) 2019/796 of 17 May 2019 concerning restrictive measures against cyber-attacks threatening the Union or its Member States; and the Cyber-Attacks (Asset-Freezing) Regulations 2019 (S.I. 2019/956).

    The Cyber (Sanctions) (EU Exit) Regulations 2020 provides, among other things, the criteria for the Secretary of State to designate an individual as subject to a travel ban or asset freeze and the financial sanctions that may be imposed on a designated person.

    The Cyber (Sanctions) (EU Exit) Regulations 2020 will come into force when regulations are made to do so.

    View the Cyber (Sanctions) (EU Exit) Regulations 2020 (SI 2020/597).

    View the explanatory memorandum to the Cyber (Sanctions) (EU Exit) Regulations 2020.

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