Latest News

USA-EU data transfer pact nears, EU says safeguards strong enough


USA-EU data transfer pact nears, EU says safeguards strong enough By Reuters

Breaking News


Economy 10 minutes ago (Dec 13, 2022 15:07)

© Reuters. FILE PHOTO: A computer keyboard lit by a displayed cyber code is seen in this illustration picture taken on March 1, 2017. REUTERS/Kacper Pempel/Illustration

BRUSSELS (Reuters) – The European Union on Tuesday took a step closer to sealing a data transfer pact with the United States as it issued a draft decision saying that U.S. safeguards against American intelligence activities are strong enough to address EU concerns.

Both sides clinched a preliminary deal in March, cheering thousands of companies which found themselves in a legal morass after Europe’s top court struck down a previous data transfer accord in 2020 on concerns about U.S. intelligence agencies accessing Europeans’ data. It was the second such court veto.

U.S. President Joe Biden followed up in October with an executive order setting out new safeguards on the activities of U.S. intelligence gathering and creating a two-step system of redress, first to an intelligence agency watchdog then to a court with independent judges.

The European Commission’s justice chief Didier Reynders said the draft adequacy decision shows that U.S. safeguards offer the same level of data protection to European citizens as that under EU law. 

“Our analysis has showed that strong safeguards are now in place in the U.S. to allow the safe transfers of personal data between the two sides of the Atlantic,” Reynders said in a statement.

“The future Framework will help protect the citizens’ privacy, while providing legal certainty for businesses,” he said.

Austrian privacy activist Max Schrems, whose campaign about the risk of U.S. intelligence agencies accessing Europeans’ data in a long-running dispute with Meta led to the court vetoes, said the U.S. safeguards were not adequate for non U.S. people.

“I can’t see how this would survive a challenge before the Court of Justice. It seems that the European Commission just issues similar decisions over and over again – in flagrant breach of our fundamental rights,” he said in a statement.

EU data protection watchdog EDPB, EU countries and EU lawmakers will now offer non-binding opinions in a process that will likely take about six months, with the EU final adequacy decision expected before next summer.

USA-EU data transfer pact nears, EU says safeguards strong enough

Our Apps

Terms And Conditions
Privacy Policy
Risk Warning

© 2007-2022 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Metals Stocks: Gold hits highest level since late June after CPI data show a slowdown in inflation

Previous article

Climate change could cost pension funds billions, EU watchdog says

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News