Through an eleventh-hour maneuver, the United States and the European Union last week avoided action that could have choked the movement of data between the regions and caused financial harm to U.S. companies. It may be only a temporary respite, however. The problem stems from a European Court of Justice decision in October that blew up an agreement between the regions that provided more than 4,000 U.S. companies with a “safe harbor” from strict European privacy laws when handling the information of the region’s citizens.
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New Safe Harbor Pact Offers Temporary Port in Storm
Posted by: John P. Mello Jr. February 9, 2016 07:00 AMThrough an eleventh-hour maneuver, the United States and the European Union last week avoided action that could have choked the movement of data between the regions and caused financial harm to U.S. companies. It may be only a temporary respite, however. The problem stems from a European Court of Justice decision in October that blew up an agreement between the regions that provided more than 4,000 U.S. companies with a “safe harbor” from strict European privacy laws when handling the information of the region’s citizens.