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Why Brexit hasn’t delivered for the UK insurance industry; and Dutch football’s data quandary
12 August 2022 00:00
The promise of Brexit, 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 under EU rules. It’s a clash that’s feeding into the ruling Conservative Party’s leadership contest. Also on today’s podcast: A controversial data-protection penalty imposed on a Dutch football TV broadcaster has been overturned — but wider questions about the interpretation of the GDPR’s legitimate interests rule remain.