The EU-U.S. Privacy Shield Framework was adopted last month, July 2016. This new regulation was designed and accepted by the U.S. Department of Commerce and European Commission to provide companies on both sides of the Atlantic with a mechanism to comply with EU data protection. The Privacy Shield’s requirements impacts personal data being transferred from the European Union to the United States. US Companies that do global business may be interested in being in compliance, if they receive personal data from European Union citizens.
Bloomberg is currently featuring the Austrian data privacy activist Max Schrems – and he takes apart the EU-US Privacy Shield, the successor to the Safe Harbor arrangement.