The Court of Justice of the European Union (“CJEU”) issued yesterday its long-expected Judgment in Schrems vs Data Protection Commissioner, in which the court, largely adopting the opinion of its Advocate General, resolved that the Decision 2000/520 of the European Commission which provides that the Safe-Harbour scheme provides an adequate level of protection and can be used as ground for the transfer of personal data from the EU to US companies participating in the Safe Harbour scheme, is invalid.
Our partner Takis Kakouris contributed to the guide "The Price of data security: A guide to the insurability of GDPR fines across Europe", which was launched by DLA Piper and Aon on May 16, 2018. The guide looks at the insurability of regulatory and GDPR fines and associated costs across 30 European jurisdictions, including the UK.
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The Lex Mundi Global Data Privacy Guide draws on the expertise of the Lex Mundi network and is a simple yet concise tool for clients who are looking to learn more about key data protection concepts and issues around the world.
Following the recent invalidation of the Safe Harbour scheme by the CJEU as a legitimate ground for the transfer of personal data from the EU to the US, yesterday the EU Commission approved a political agreement reached with the US paving the way for a new and more robust mechanism for such data flows.
The “EU-US Privacy Shield”, to be soon introduced, appears to be in line with the requirements set by the Schrems judgment and will comprise the following basic elements: