WASHINGTON – Today ITI, the global voice of the tech sector, released the following statement regarding the European Commission’s decision to validate the EU-U.S. Privacy Shield Framework following its annual review:
“We are pleased that the European Commission confirmed the EU-U.S. Privacy Shield – a vital tool for companies on both sides of the Atlantic to reliably move data – is working well,” said ITI Senior Vice President of Global Policy Josh Kallmer. “The Privacy Shield framework demonstrates that both industry and the U.S. government appropriately protect personal data, while providing the economic certainty for businesses to enter new markets, create jobs, and bolster economic growth. We appreciate the continuing support for Privacy Shield from both the U.S. Administration and European Commission, and look forward to working with our partners on both sides of the Atlantic to ensure it continues to work well.”
The July 2016 establishment of the EU-U.S. Privacy Shield, a mechanism allowing companies to comply with data protection requirements when transferring personal data from the European Union to the United States, provided welcome relief from the uncertainty surrounding transatlantic trade following the invalidation of the Safe Harbor agreement.
One of Privacy Shield’s innovations was the annual review process. The key purposes of the review are to ensure the proper functioning of the agreement and address concerns that may arise in light of legal or other developments on either side. To date, over 2,500 companies have certified to the increased safeguards required under Privacy Shield, and are now relying on the Framework to transfer and safeguard personal data from the EU to the United States.