Regulator to regulator information sharing
It is in both the UK and the EU's interest to ensure that
regardless of whether the UK withdraws from the EU with or without
a deal, regulators can continue to share data and information post
29 March 2019. The Political Declaration published on 22 November
2018 envisages a clear spirit of mutual cooperation, stating that
reciprocal equivalence frameworks will be put in place enabling
both the EU and the UK to declare a third country's regulatory
and supervisory regimes "equivalent". This is
particularly important where there is a cross border investigation
occurring which may involve both the UK and other EU countries.
The Withdrawal Agreement provides that such equivalence
assessments should begin as soon as possible after 29 March 2019
but conclude before the end of June 2020. Following the transition
period, any personal data already collected by private and public
bodies in the UK will continue to be subject to EU data
