Thousands of European and US companies will have been relieved by the recent announcement that the EU-US Privacy Shield (the framework for regulating transatlantic exchanges of personal data) is secure for another year.
However, it may be premature to rejoice: the EU Commission’s review highlighted two key issues:
- the continued reluctance by the US to institute fundamental safeguards for individuals’ personal data; and
- the imminent need to appoint an independent ombudsman.
Coupled with the impending European court ruling in Schrems II – is the Privacy Shield’s demise only a matter of time?