The UK's National Security Act 2023 ("NSA"), enacted in July 2023, introduced the yet-to-be-implemented Foreign Influence Registration Scheme ("FIRS"). FIRS has been designed to ensure transparency around legitimate activities carried out at the direction of foreign states and to protect the UK's economy and political system against specified foreign states or foreign state-controlled entities that are considered to pose a risk to the UK's safety and interests. To fulfil these intentions, FIRS will require UK and overseas businesses to register arrangements with foreign states where those arrangements concern undertaking "political influence" conduct in the UK.
Continue reading the full GT Alert.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.