- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The Organisation for Economic Co-operation and Development projected that Britain’s exit from the European Union will result in a sharp slowdown in economic growth in the United Kingdom.
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Two years after U.K. citizens voted for the country to withdraw from the European Union, Prime Minister Theresa May at last unveiled her vision of Brexit.
The Bank of England thinks the United Kingdom has made positive “progress” on handling the risks of disruption to financial services likely to be caused by Brexit, but adds there has been a lack of similar action from the European Union.
Breaches of the EU’s GDPR can cost companies substantial sums and huge reputational damage. Now some are warning that the implementation of the EU’s AI Act will be just as far-reaching, and could potentially lead to similar numbers of cases.
