EU-U.S. Privacy Shield Review Report Outlines Steps To Improve Enforcement and Monitor Compliance

The Privacy Shield – a mechanism by which U.S. companies can legally transfer data to the European Union, continues to draw the attention of regulators and policymakers. On December 19, 2018, the European Commission (the Commission) announced the publication of its report on the second annual review of the EU-U.S. Privacy Shield. The report offers companies insight into what aspects of the Privacy Shield officials find most important and what steps are planned to strengthen enforcement and oversee compliance. Background The EU-U.S. Privacy Shield is a framework for transatlantic exchanges of personal data for commercial purposes between the European Union and the United States. Companies must self-certify that they meet the requirements of…

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Technology for GDPR Compliance Will Cost Top U.S. Firms $1 Million

A new survey conducted by Paul Hastings LLP provides a serious reminder that the cost associated with EU General Data Protection Regulation (GDPR) compliance is staggering, and that to be ready to comply when the regulation goes into effect on May 25, 2018, U.S. companies must act now. U.S. firms in the Fortune 500 will spend an average of $1 million on GDPR compliance technology alone. Currently, only 9 percent of U.S. companies surveyed have purchased new technology and just 34 percent have allocated the appropriate budget to hire the additional staff necessary to meet regulatory demands. The consequences of GDPR violation are immense, with fines of up to $22.4…

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Non-Compliance with EU Law Is Still Not an Option

U.S companies hoping to avoid compliance with the requirements of EU law may want to think twice. It’s really time to get on with it. Despite early rhetoric from the Trump Administration, discussions between the U.S. Department of Commerce and the EU Commission last week indicate that the best course for businesses involving data about EU citizens is to take the steps necessary to comply. U.S. officials sent a clear message that they stand behind the commitments of their predecessors to promote compliance by U.S. businesses, at least with respect to the Privacy Shield. This likely reflects a broader U.S. government position that is pro-compliance. EU Justice Commissioner…

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