Privacy Shield Takes Another Step ForwardOn March 4, 2016 by Schnader
Roughly three weeks ago EU and U.S. negotiators announced that they had reached agreement on a replacement for the Safe Harbor mechanism for compliance with European regulations on transfers of personal information to the United States. More than 4,000 U.S. businesses were reliant on Safe Harbor to allow them to receive data from Europe on EU-based customers and employees when, in October 2015, it was invalidated by the EU Court of Justice, creating great risk for the businesses that had relied on it. As we reported here, representatives of the U.S. and the EU had already missed the deadline set by European privacy regulators to satisfactorily replace Safe Harbor or see the flow of data to the U.S. cease when a deal was struck even as the deadline in fact passed. The trouble with the February agreement was that the negotiators had nothing to show the regulators beyond an outline of the principles underpinning the deal.
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