The future of trans-Atlantic data transfer

The economic and political costs of not reaching an agreement are high for both sides. On Monday the EU Commission provided an outline for a new agreement – the so-called Privacy Shield. According to EU Commissioner for Justice Jourová the US will provide written assurances that there are clear limitations, safeguards and oversight regarding government agencies access to data. The outline also includes an annual review of all commitments made under the new agreement and the creation of a new ombudsman at the US Department of State to which European citizens can turn with complaints. The outline also calls for stronger supervision mechanisms for companies that will participate in the new arrangement. Even though the details of the new agreement are still to be determined, the outline has already been met with skepticism by European data protection authorities. And commentators have noted that the recent announcement buys both sides time but that important issues still need to be resolved to reach a final deal....