Hello, welcome back to Emlex's podcast covering the top regulatory stories of the week with the assistance of our team of reporters around the globe.

My name is James Panicki. I'm Emlex's Asia Pacific Senior Editor,

and it's great to have your company again, especially if you're listening in the Northern

Hemisphere, hopefully from a reasonably cool holiday destination. And we have a great privacy

yarn for you today of particular interest to fans of soccer or football of the roundball

variety. A controversial data protection penalty imposed on a Dutch football TV broadcaster has been

overturned in court, but there are still wider questions about the interpretation of the GDPR's

legitimate interests rule.

And Sam Clark will be joining us in around 10 minutes time to walk us through that story.

First up, though, to yes, well, what else, Brexit?

And you'll remember that one of the promises of the United Kingdom's controversial departure from the European Union

was that financial services industries in the city of London would break free of EU red tape.

However, UK regulators appear not to have received the Brexit dividend memo, as demonstrated by

the recent clash over how much capital insurers should have in

their coffers. The government had pledged to make life easier for insurers, but the industry is

claiming that under new proposals, insurers may in fact have to hold more capital than they

would have under EU rules. It's a clash that's feeding into the ruling

Conservative Party's leadership contest, the political event which has made for a more lively

summer break than usual. Fiona Maxwell is Emlex's Senior Financial Services Correspondent. She's based

in London and she has been following this story for us.

Fiona, so what is the issue here from the insurers' perspective?

So this is kind of a post-Brexit discussion. So after Brexit, there was a pledge by

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