The European Union and United States have announced a replacement for the Safe Harbor agreement — the EU-U.S. Privacy Shield — which, if approved, will provide a new framework under which U.S. companies can transfer personal data from the EU to the U.S. under the EU Data Directive. The specific text of the Privacy Shield has not yet been released, and the agreement must still be approved on both sides of the Atlantic, but some details of the historic arrangement have begun to emerge. Overall, the agreement seeks to balance the fundamental right of privacy of EU residents with the needs of the U.S. intelligence committee while also creating a workable system for U.S. companies. No guidance has yet been provided as to whether companies that certified to the Safe Harbor in the past will be able to easily transition to the Privacy Shield or, rather, will need to start a whole new process.
Historic New ‘Privacy Shield’ Agreement to Replace EU US Safe Harbor”
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