Here is a transcript of the audio breaken down into bullet points to direct you to the salient points of the law:
On 26 May 2012 a new cookie law came into force in the UK.
A large proportion of those websites are now breaking the law.
Cookies are small text files stored on your computer which allow websites to retrieve information about your previous visits.
The law states that the website owner must have the user's permission to store cookies.
Permission can be implied, but this is not a reason to do nothing.
Only "Strictly necessary" cookies are exempt. For example, cookies must be used when adding items to a shopping cart.
So what must you do?
You must also allow the user to opt out of any cookes that are not "strictly necessary".
It is therefore wise to display a prominent message the first time somebody visits your website to gain their consent.
If you would like to know more about the specifics of the law then please visit the ICO website here.