On 24 December 2020 it was introduced that the UK (“UK“) and European Union (“EU“) had reached an settlement, in precept, outlining the idea for the continued relationship between the UK and EU as soon as the Brexit transition interval ends on 23:00 (GMT) 31 December 2020 (“Brexit Transition Interval“).
The settlement, entitled the EU-UK Commerce and Cooperation Settlement (hereafter the “Commerce Settlement“), comprises an additional transitional interval of as much as six months (“Further Transition Interval“) throughout which private information can movement freely between the European Financial Space (“EEA“) and UK with out the necessity for events to implement further safeguards to impact such transfers.
Starting 1 January 2021, the UK will probably be thought-about a 3rd nation for functions of the EU Normal Knowledge Safety Regulation (“GDPR“). Because of this, transfers of non-public information from the EEA to the UK will probably be prohibited except the European Fee has taken an adequacy resolution or – within the absence thereof – EEA information exporters take additional steps to make sure adequacy for private information, equivalent to getting into into the EU Normal Contractual Clauses, implementing Binding Company Guidelines or counting on any of the out there derogations within the GDPR.
The Commerce Settlement states that through the Further Transition Interval transfers of non-public information from the EEA to the UK won’t be thought-about transfers of non-public information to a 3rd nation, and as such, won’t be prohibited by the GDPR. The aim of the Further Transition Interval is to allow the European Fee to finish its adequacy evaluation of the UK’s information safety legal guidelines.
The Commerce Settlement will take provisional impact on 1 January 2021, however have to be adopted by the European Council and consented to by the European Parliament earlier than it may be ratified and totally applied. The Commerce Settlement can even should be permitted by the UK Parliament.
In response to the announcement, the UK Info Commissioner’s Workplace (“ICO“) launched a statement on 28 December 2020. In its assertion, the ICO recommends that UK organisations, each earlier than and through the Further Transition Interval, work alongside EEA organisations from who they obtain private information to make sure ample switch mechanisms are in place to safeguard in opposition to doable future interruptions to information flows.