UK Finance responds to "No Deal" Brexit guidance on data protection

Responding to the government's guidance on data protection in the event of a ?no deal? Brexit, Stephen Jones, Chief Executive of UK Finance, said:

We continue to believe that a ?no deal? scenario can and should be avoided. However, it is right that the government is providing guidance to businesses on critical cliff-edge issues such as the cross-border flow of data.

Every day, millions of citizens and businesses rely on the free flow of personal data between the EU and UK that underpin our modern digital economies. A pragmatic approach is needed to ensure this vital cross-border exchange of personal data can continue including in a ?no deal? scenario.

Both sides currently share the highest standards of data protection, which the UK has rightly committed to maintaining after Brexit.

It is vital that negotiations progress swiftly to ensure continued cross-border data flows and prevent additional costs and bureaucracy for firms and their customers on both sides of the Channel.

Area of expertise:

Notes to editor

<ol><li>UK Finance is a trade association formed on 1 July 2017 to represent the finance and banking industry operating in the UK. It represents around 250 firms in the UK providing credit, banking, markets and payment-related services. The new organisation brings together most of the activities previously carried out by the Asset Based Finance Association, the British Bankers? Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association.</li>
<li>UK Finance and TechUK published a <a href="/no-interruptions-?-options-future-uk-eu-data-sharing-relationship" target="_blank"><strong>joint paper</strong></a> in November 2017 setting out proposals to allow the free flow of personal data between the EU and UK to continue: ?No Interruptions: options for the future UK-EU data sharing relationship.?</li>