European Privacy Regulators Propose Rules For Data Transfers To The U.S.

On November 10, 2020, the European Data Protection Board ("EDPB") released proposed rules describing the conditions that entities subject to the European Union's ("EU") General Data Protection Regulation ("GDPR") can transfer data to third countries (the "Proposal").  The Proposal is significant because it follows a recent judgement of the Court of Justice of the European Union ("CJEU") that held that prior rules governing EU data transfers to the United States were inadequate.  If you are a multinational employer with a European presence or a service provider to European retirement or health plans, it will be important to track these rules as they evolve and to begin to develop new compliance mechanisms.