By Neil Hodge2020-12-10T21:13:00+00:00
If European compliance officers think 2020 was bad, wait until they get a load of 2021.
Many of the problems the profession faced in 2020 will remain in place going into the new year such as remote working and the associated compliance risks around fraud, cyber-security, data protection, and the lack of consolidated oversight but new risks will also present new challenges, Brexit being one of them. Irrespective of whether the European Union and the United Kingdom can agree to a trade deal, legislative and regulatory changes are likely to appear across a range of industry sectors as a result of the U.K.’s decision to leave the single market.
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Introduction
In our October 2020 advisory, we highlighted the
uncertainty in respect of data transfers between the EU and UK from
the end of the Brexit transition period on 31 December 2020 (the
Transition End Date ).
Against this backdrop, there have been a number of developments
in recent weeks with regard to the obligations of EU-based
organisations transferring data to third countries. These
developments include the publication of new draft measures from the
European Data Protection Board (the
EDPB ) and the EU Commission which
should be considered in tandem and are detailed below.
Background
The Court of Justice of the European Union (the
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