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MLex Market Insight

How Brexit threatens to barricade our information superhighways

MLex Market Insight

MLex Market Insight

News

4.99 Ratings

🗓️ 18 April 2019

⏱️ 15 minutes

🧾️ Download transcript

Summary

Data and information flows are ever more important in today's hyper-connected world, and a critical priority for states is to ensure smooth, legal cross-border links. Brexit is driving a cart and horses through that aim, both in the UK and around the world. Telecoms correspondent Vesela Gladicheva and Brexit Correspondent Matthew Holehouse examine this vexed issue with London news editor Ben O'Neill.

Transcript

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0:00.0

Hello, I'm Ben O'Neill, Emlex's news editor in our London Bureau. If you're familiar with

0:16.8

Emlex's podcasts, thanks for joining us again, and if this is your first time, a very warm welcome.

0:22.8

Today we're talking about Brexit's impact on data flows and I'm joined by Vesler Gladyshechever,

0:29.3

our senior telecoms media and IT correspondent. Hello? And by Matthew Holhouse, our senior Brexit

0:35.9

correspondent. Hello. With all our lives and the activities of businesses across the board

0:41.3

increasingly dependent on the digital world,

0:44.3

data and information flows have never been so important.

0:48.3

Now much of the preparation work for the UK's withdrawal from the EU

0:52.3

has involved trying to ensure that the withdrawal agreement

0:55.3

seamlessly maintains the data flows that companies rely on, and that it preserves the data privacy

1:01.8

regime pioneered by the EU. As we speak today, though, Brexit is still up in the air, and a no-deal

1:09.2

scenario looms large. And should that come to pass,

1:12.5

the consequences for data flows and for privacy could be dire. Vesler, could you kick us off just

1:19.3

by explaining what the worries are here? Of course, as you just mentioned, data flows have

1:25.6

become increasingly important for companies. In the context of Brexit,

1:31.4

of course, we mean companies on both sides of the English channel. And we're talking about all sorts

1:37.5

of data, paste lips, photo albums, uploaded on cloud services, medical records. And the risk for company lies in the fact

1:48.5

that when the UK finally leaves the EU, they will face a legal vacuum for data transfers. And in the

1:57.9

case of a no-deal Brexit and a no transitional period in place, they will have

2:05.0

to think about alternative methods to keep those data flows going. Companies preferred way

2:12.6

to fill that legal void is a so-called UK-EU adequacy certification from the European Commission

2:20.3

that would allow data to keep flowing freely from the EU to the UK.

...

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