Recent EU and UK Data Protection Developments: What Financial Services Firms Need to Know

Introduction

This bitesize webinar will examine two recent developments in European data protection law, with a specific focus on the impacts to the financial services sector: the UK Data (Use and Access) Act and the EU Commission’s Digital Omnibus proposal. Both initiatives plan to introduce changes to the operation, scope and enforcement of UK and EU data protection regimes, with direct implications for regulated firms’ governance, data use, and compliance frameworks given the sector’s deep reliance on data. The session will explain what the reforms propose to change in practice, and how they interact with existing GDPR-based obligations.

Attendees will gain a clear, practical understanding of how the new UK and EU measures could impact day-to-day compliance in the financial services industry, as well as the opportunities and risks these changes may bring. The discussion will focus on the implications of the UK Data (Use and Access) Act which comes into force in phases through June 2026 and will impact both personal and non-personal data use, as well as the proposals of the EU Commission’s Digital Omnibus as they relate to EU GDPR.

What You Will Learn

This short webinar will cover the following:

• UK Data (Use and Access) Act - the introduction of meaningful amendments in several key areas which are relevant for financial services firms:
• Changes to UK GDPR and UK Data Protection Act 2018
• International transfers
• Legitimate interests
• Data subject access requests
• Automated decision-making
• E-Privacy law fines
• Complaints procedures
• EU Digital Omnibus (Digital Omnibus on AI and Digital Legislation Omnibus)
• Timeline and context
• Simplification of key rules including GDPR, AI Act, DORA, Data Act etc.
• Definition of ‘personal data‘
• Legitimate interest ground for AI training
• Cookies and tracking technologies
• Reducing transparency obligations
• DPIAs and DSARs
• Streamlining incident reporting requirements across various EU data laws

This pre-recorded webinar will be available to view from Friday 5th June 2026

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