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UK regulators to get more leverage over cybersecurity, reporting, and penalties

A signboard reading "Defence & National Security".
Cyberattacks are said to be costing the UK economy nearly £15 billion a year. Photo: Carl Court/Getty Images

New UK legislation reaches parliament after a year marked by a string of costly and sophisticated cyberattacks.

A bill presented to the UK parliament will, for the first time, impose new regulatory requirements on companies that provide critical services, such as IT and cybersecurity, to the country’s private and public sectors.

It will also cover the regulation of cybersecurity mechanisms in other essential public services such as