Seven bills obtained Royal Assent Thursday at parliamentary prorogation, thereby changing into regulation. Amongst these are the Financial Crime and Company Transparency Invoice 2023, the On-line Security Invoice and the Employee Safety (Modification of Equality Act 2010) Invoice.
The Economic Crime and Corporate Transparency Bill had its first parliamentary studying on September 22, 2022. It goals to create protections for UK corporations from dangerous actors who might commit acts of company crime corresponding to fraud and cash laundering. It’s reaching this by way of a number of modes of reform, such because the function of the Firms Home and the misuse of restricted partnerships. Underneath the brand new reforms, Firms Home would require all pre-existing and new firm administrators to confirm their identities. Moreover, the invoice strengthens anti-money laundering powers. The invoice was predominantly launched with haste underneath emergency measures following the Russian invasion of Ukraine to take measures in opposition to any Russian cash which will have been unlawful. The invoice has been permitted after varied amendments between the Home of Lords and the Home of Commons.
The Online Safety Bill aims to create enhanced protections surrounding web security and freedom of expression. The invoice builds upon policy discovered within the on-line harms white papers. These define the required protections required by way of the laws and the framework for this. Notably, the invoice will “impose duties on suppliers in relation to the safety of customers’ rights to freedom of expression and privateness.”
The Worker Protection Act 2023 strengthens staff protections beforehand supplied underneath the Equality Act 2010. Particularly, the invoice that obtained Royal Assent creates a provision outlining newly imposed duties of employers regarding these staff’ protections.