How will the financial services industry share data post-Brexit?
Which parts of the financial services industry will be hardest hit by the loss of the ability to transfer data across the EU? What impact will the General Data Protection Regulation (GDPR) have? How will the UK's ‘onward transfer' of data to non-EU countries affect the relationship with the EU?
These are among the questions the House of Lords EU Financial Affairs Sub-Committee will be asking the witnesses below at 10.15am on Wednesday 23 May 2018:
- Simon Gleeson, Partner, Clifford Chance
- Rosemary Jay, Senior Consultant Attorney, Hunton Andrews Kurth
- Ian Walden, Professor of Information and Communications Law, Queen Mary University London.
Other questions the Committee is also likely to ask include:
- How is the financial services industry responding to the data challenges posed by Brexit? Are firms changing their contracts, introducing Binding Corporate Rules, or adopting other approaches?
- Are any firms planning to move their data centres from the UK into the EU27?
- Are there opportunities for the UK to put in place a better data sharing regime post-Brexit?
- The FinTech sector is particularly data intensive. How might the eventual post-Brexit data regime affect the attractiveness of the UK as a base for FinTech firms?
This evidence session will take place at 10.15am on Wednesday 23 May in Committee Room 4A of the House of Lords.
