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Transborder Data Flow

EU Commission Issues Privacy Shield Details and Draft Adequacy Decision

EU Commission Issues Privacy Shield Details and Draft Adequacy Decision The “adequacy decision” for EU-US personal data transfers, drafted by the EU Commission, as well as the texts that will constitute the EU-US Privacy Shield have been published today. The EU Commission concludes that the United States ensures an adequate level of protection for personal data  transferred  under  the  EU-US Privacy  ... Read More »

EU-US Safe Harbor Framework Replaced by EU-US Privacy Shield

The European Commission and the United States have agreed on a new framework for transatlantic data flows: the EU-US Privacy Shield. Today February 2, 2016, the College of Commissioners approved the political agreement reached and has mandated Vice-President Ansip and Commissioner Jourová to prepare the necessary steps to put in place the new arrangement. This new framework will protect the fundamental rights of ... Read More »

Safe Harbor: No deal yet for EU-US data transfers

Věra Jourová, European Commissioner for Justice, addressed the European Parliament’s LIBE Committee yesterday evening, 1 February, to inform the MEPs of the state of play in the negotiations. “Negotiations are still ongoing, including at the political level. There have been very intensive discussions at the weekend. The College [the 28 EU Commissioners] will discuss the matter tomorrow [2 February], so ... Read More »

US / European Union Safe Harbor Deal Still on the Rocks

American and European officials failed on Sunday to reach an agreement over how digital data — including financial information and social media posts — could be transferred between the two regions.    Despite last-minute talks, which included high level officials such as Secretary Pritzker meeting with Andrus Ansip, the European official in charge of the region’s digital agenda, the two sides ... Read More »

European Court of Justice: European / USA Safe Harbor Agreement is Invalid

The European Court of Justice has just ruled that the transatlantic Safe Harbour agreement, which lets American companies use a single standard for consumer privacy and data storage in both the US and Europe, is invalid.  Companies such as Facebook and Twitter may now face scrutiny from individual European countries’ data regulators — and could be forced to host European user ... Read More »

Data Protection: EU-US Safe Harbor Framework May Be Suspended

The European Parliament will vote on March 12 whether to suspend the EU-US “Safe Harbor Framework.”    The European Parliament’s Civil Liberties, Justice and Home Affairs (LIBE) committee recently backed a report that calls for the “immediate suspension” of the EU-US Safe Harbor Framework. Currently, data protection laws in the EU prevent organizations from sending personal data outside of the European ... Read More »

World Bank Issues General Principles for Credit Reporting

The World Bank, in collaboration with the Bank for International Settlements (BIS), the IFC (International Finance Corporation), various central banks and members of the information industry represented by ACCIS (Europe), BIIA (Asia Pacific), CDIA (USA) and the Latin American Credit Reporting Association, has been working on developing universal standards for credit reporting.  Following a six months consultative period the World ... Read More »

World Bank Issues General Principles on Credit Reporting for the Financial Services Sector

The World Bank, in collaboration with the Bank for International Settlements (BIS), various central banks and members of the information industry represented by ACCIS (Europe), BIIA (Asia Pacific) and CDIA (USA), has been working on developing universal standards for credit reporting. The standards have been unveiled for the first time in a public forum at the World Bank / IFC ... Read More »