The EU-U.S. Trans-Atlantic Data Privacy Framework Moves Closer To Approval: Why It Matters For Your Business

What You Need To Know:

• On final approval, the EU-U.S. Trans-Atlantic Data Privacy Framework will replace the Privacy Shield, which was invalidated by the highest court in Europe in 2020.
• Under the new Privacy Framework, organizations that transfer personal data from the EU to the U.S. may obtain certifications from the U.S. Department of Commerce that the European Data Protection Board recognizes as providing "adequate security" for such data.
• There are several hurdles remaining before the new Privacy Framework is implemented, including review by the European Data Protection Board and approval by the EU member states, which could happen as early as 1Q 2023.

An Executive Order to Reassure European Skeptics