The last two weeks has seen the issue of privacy and cross border data flows still continue. Despite the European Commission believing it has ‘struck a deal’ on the rules for the flow of data to the US, the Article 29 Working Party which consists of the Privacy Regulators from the member states has pointed out that they still have some concerns about whether the rules are sufficient. It’s unlikely that their view will change the deal but it is clear the Regulators will be monitoring closely the arrangement and will not hesitate to take steps if they believe consumers rights have been put at risk under the new arrangement.
With Brussels now entering its summer vacation period we are likely to see a lot less activity from the Commission until they return in September.
KEY AREAS OF ACTIVITY
- ARTICLE 29 WORKING PARTY ISSUES STATEMENT ON THE DECISION OF THE EUROPEAN COMMISSION ON THE EU-US PRIVACY SHIELD
On 26 July 2016 the Article 29 Working Party (WP29) issued a statement on the decision of the Commission on the EU-US Privacy Shield, which was adopted on 12 July.
The statement interestingly points out that some of the concerns previously expressed in the Opinion WP238 are still remaining. Interesting for BIIA is the concern regarding the lack of specific rules on automated decisions and of a general right to object.
The WP29 also announced that its members will proactively and independently assist the data subjects with exercising their rights under the Privacy Shield mechanism, in particular when dealing with complaints, and will provide information to data controllers about their obligations.
Finally, emphasis is put on the annual review mechanism, which should be a key moment to assess the robustness and efficiency of the Privacy Shield.
The press release from the Article 29 Working Party is available here.
- BRUEGEL ANNUAL MEETINGS TO BE HELD ON SEPTEMBER 6TH AND 7TH.
On the Tuesday, 6th of September, and Wednesday, 7th of September, Bruegel will hold its flagship annual meetings which offer a mix of large public debates, and small private sessions about key issues in European and global economics. In a series of high-level discussions, Bruegel’s scholars, members and stakeholders will address the economic policy challenges facing Europe. The following lectures will discuss topics that could be of interest for BIIA and its members:
o Debt overhangs and their resolution: On September 6th from 15:00-16:00, Maria Demertzis (Bruegel), Erik F. Nielsen (Unicredit) and Carmen M. Reinhart (Harvard University) will discuss the topic of over-indebtedness.
o Banking and financial union (by invitation only)
Registration and event details available here.
Neil Munroe is a director of BIIA and a member of the BIIA regulatory committee. He can be reached at: CRS Insights Ltd – e: firstname.lastname@example.org – m: +44 (0) 7710 844518, p: +44 (0) 1923 284604