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Northern Ireland Protocol: agreement in principle The co-chairs of the EU-UK Joint Committee stated that, following their meeting on 8 December 2020, agreement in principle had been reached on the outstanding issues in relation to the implementation of the Withdrawal Agreement and the Northern Ireland Pr... Northern Ireland Protocol: agreement in principle The co-chairs of the EU-UK Joint Committee stated that, following their meeting on 8 December 2020, agreement in principle had been reached on the outstanding issues in relation to the implementation of the Withdrawal Agreement and the Northern Ireland Pr... Taxing multinationals: what the statistics reveal The net yield from the UK’s diverted profits tax (DPT) since it was introduced in April 2015, is £386m according to the latest statistics published by HMRC, way in excess of the £270m-£360m it was forecast to bring in up to and including 2019/20.  The pri... AML/CFT EU supervisory mechanism: EU and French reinforcements Regulatory change and development is frequent in the financial services sector and this has particularly been the case for the anti-money laundering (AML) and combating terrorism financing (CFT) legal framework. The framework has received much attention f... The Collapse of cryptography – considering the quantum threat to blockchain Is it possible for a blockchain solution to respect the fundamental principles of data protection and privacy? We have previously analysed this issue (see March of the Blocks) and concluded, generally speaking, yes. But does quantum change this? In our re... ENISA issues guidelines on securing the IoT supply chain On 9 November 2020, the European Union Agency for Cybersecurity (ENISA) published its guidelines for securing the Internet of Things (IoT) supply chain (see the full report here). The report is relevant to all those developing, selling and using IoT devic... A new year, a new role: CMA to house new UK digital regulator Ending months of speculation about which UK regulator would take on this responsibility, on Friday, the government announced that the new Digital Markets Unit (or DMU) will be housed within the CMA from April 2021.   The DMU will have its work cut out, as... Changes coming to NIS regime sanctions Changes to the NIS regime are one step closer as the Government publishes its response to its summer consultation The NIS regime aims to make the EU’s (and UK’s) essential services in sectors such as transport, energy and certain digital services more sec... The Netherlands to introduce segregated payment accounts for safeguarding customer funds On 6 November 2020, the Dutch Minister of Finance published for consultation a new act providing for Dutch payment institutions, e-money institutions and investment firms to use segregated payment accounts as a new means of safeguarding customer funds. A ... Approval of Spain's law on a regulatory sandbox On 14 November, Law 7/2020 on digital transformation of the financial system entered into force, which establishes and governs the first regulatory sandbox in Spain. The following are the main aspects of Law 7/2020. The sandbox will offer a controlled tes...