“We have agreed on the changes and will be able to adopt it in early July,” European Commission spokesman Christian Wigand said Friday.
Multiple sources are reporting that a revised draft has been reached on the EU - US Privacy Shield. The European Commission (who have been negotiating terms) are said to be happy with the amended changes and an official statement by the EU is likely early next week. Businesses and stakeholders will then be expected to conform to the new legislations.
Top Industry Reactions
Last week a number of big players reacted to the amended Safe Harbor agreement, the EU-US Privacy Shield. – (read our previous Privacy shield updates here)
Microsoft came out as the first major US tech company to back the Privacy Shield. Speaking on behalf of Microsoft, John Frank, Vice President of EU Government Affairs posted to the company blog.
“We recognize that privacy rights need to have effective remedies. We have reviewed the Privacy Shield documentation in detail, and we believe wholeheartedly that it represents an effective framework and should be approved.”
Last month saw an agreement reached between the US department of commerce and the European commission, to update the terms of the previous Safe Harbor agreement. You can read about that more in our previous blog post here; EU – US Agreement reached in Safe Harbor Negotiations.
The US and EU have reached an agreement on a new pact to replace the previous safe harbor, which was made void last year. The new pact, still pending political approval, will be called the ‘EU-US Privacy Shield.’
