New framework for transatlantic data transfers needed in wake of Schrems judgment
“International data transfers are the life blood of the digital economy”, said Townsend Feehan, IAB Europe CEO. “Today’s ruling brings with it significant uncertainty as to the future possibility for such transfers. All parties must now ensure that those transfers, on which the EU’s digital economy so critically depends, may continue in a manner that enables continued growth and innovation, while providing adequate protection for EU citizens’ personal data.”
IAB Europe believes that the new framework should provide a level playing field and the legal certainty that today’s ruling has called into question, and ensure effective enforcement by U.S. authorities of data protection commitments entered into by companies operating under it. Predictable rules are imperative for the achievement of the EU’s digital single market. This way, companies of all sizes will be able to reap the benefits of the global digital economy. Today’s ruling is also an opportunity to strengthen transatlantic cooperation, and we urge the U.S. and EU to seize that opportunity.
In the meantime, we look to the European Commission to quickly issue guidance to companies that depend on Safe Harbour for their data flows to the U.S.
For more information, please contact Townsend Feehan (email@example.com or +32 478 275 074).