EU and U.S. Implement New Joint Privacy Shield
On July 12, 2016, the EU Commission formally launched a new transatlantic data transfer framework, known as the EU-U.S. Privacy Shield, to replace the U.S.-EU Safe Harbor which was invalidated in October of last year by the Court of Justice of the European Union due to concerns that the U.S. failed to meet adequate standards of data protection. The Privacy Shield provides a framework for transatlantic exchanges of personal data for commercial purposes between the EU and the U.S, and imposes compliance requirements which are significantly more burdensome than the U.S.-EU Safe Harbor. As a result, multinational companies are wary of the new scheme.
This Legal Update will provide an explanation of the Shield’s key principles as well as steps companies can take to ensure compliance under the new framework.
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