New Safe Harbor Agreement For EU Data Transfer Announced
Jurisdictions: United States of American / European Union
Authors: Mark E. Schreiber, Alan D. Meneghetti, Thomas J. Smedinghoff and Natasha Ahmed
Law firm: Locke Lord LLP
Companies are relieved that there will now be a new Safe Harbor for cross-border transfer of personal data from Europe to the US.
This announcement will provide a degree of certainty going forward, in particular after the upheaval which the Schrems case decision of the European Court of Justice last year produced, striking down the then existing Safe Harbor framework. Businesses should, however, also expect a more rigorous process by the US Department of Commerce to qualify for the “new” Safe Harbor certification and by the FTC to enforce it.
Both the EU authorities and the FTC issued statements on 2 February announcing the agreement highlights.