International Regulatory Strategy Group
Published 14 Aug 2018
The IRSG Chair, Mark Hoban, has written to the Secretary of State, Jeremy Knight, setting out the IRSG’s concerns in relation to the continuing free flow of personal data post Brexit.
A key priority is for the UK to secure an adequacy decision from the European Commission, which will provide much needed certainty to firms. The letter also encourages the government to progress discussions with other existing adequate countries and to outline how the Information Commissioner’s Office may continue to be involved in the existing EU data protection framework through the One Stop Shop mechanism and the European Data Protection Board. It also highlights the key role for financial services firms in sharing personal data on a cross border basis to assist in the fight against financial crime.