Jurisdiction(s):
United Kingdom

Key definition

Priority definition

What does Priority mean? Priority describes the order in which competing proprietary rights and security interests take effect against an asset and the sequence in which secured creditors are paid on enforcement or insolvency. It is a cross‑context concept informed by statute and case law (for example, land registration legislation, companies legislation on registration of charges, and equitable rules on notice). In practice, priority is usually set by time and method of perfection: creation and registration of mortgages/standard securities over land (e.g. under the Land Registration Act 2002 in England and Wales and the 2012 Scottish legislation), registration of company charges (at Companies House under...

Cybercrime Risk Management for Legal and Compliance Teams: Governance, Risk Assessment, Policies, Staff Training, Technical Controls, Monitoring, Reporting and Incident Response

Published by a LexisNexis Practice Compliance expert

Practice notes

Cybercrime is a rapidly shifting, continually changing and unpredictable threat to every commercial organisation and it demands firm management. This Practice Note brings together examples of sound practice for generally lowering the likelihood of cybercrime and cyber security breaches. It is written for compliance practitioners rather than cybercrime specialists. It also excludes niche industries such as telecommunications.

Responsibility

Treat cyber risk, as with any other business hazard, as a top-tier Priority for the in-house compliance or legal function and manage it accordingly. It sits within a wider information risk management and crime-prevention framework, and must not be parked with IT alone. A senior individual should assume overarching responsibility to run a risk assessment and, from that, craft and roll out your policies and procedures. They should receive training and have sufficient resources to keep those policies and procedures up to date. All personnel should know who holds this role.

Risk assessment

Begin with a risk assessment. A robust assessment will map your critical IT and data assets, consider the most probable targets and attack methods, and identify strong controls to counter those particular attack types. The emphasis is on the most likely targets and specific attacks, with defences aligned to them...

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Web page updated on 21/05/2026

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