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EU-US Privacy Shield: Third Review

EU-US Privacy Shield: Third Review

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On 23 October 2019 the European Commission published a report on the third annual review on the functioning of the EU-U.S. Privacy Shield. The report states that the U.S. continues to ensure an adequate level of protection for personal data transferred under the Privacy Shield from the EU to participating companies in the U.S. Today approx. 5,000 companies are participating in this EU-U.S. data protection framework.

The report assesses the recent improvements of the Privacy Shield, such as the process of the necessary oversight carried out by the U.S. Department of Commerce, the enforcement actions, the appointment of the permanent Ombudsperson or the redress mechanisms.

Beside the assessment of the recent improvements, the Commission also recommends certain steps to be taken to better ensure the effective functioning of the Privacy Shield in practice. The report highlights the importance of strengthening the (re)certification process for companies who want to participate in the EU-U.S. Privacy Shield by shortening the time of such (re)certification process. The report also recommends to expand compliance checks and to develop additional guidance for companies related to human resources data. 

The EU-U.S. Privacy Shield decision was adopted on 12 July 2016 and the Privacy Shield framework became operational on 1 August 2016. It protects the fundamental rights of anyone in the EU whose personal data is transferred to certified companies in the United States for commercial purposes. The Commission reviews the Privacy Shield on an annual basis in order to assess if it continues to ensure an adequate level of protection for personal data.

By Adrienn Megyesi, Attorney at Law, KCG Partners Law Firm

KCG Partners at a Glance

KCG Partners is a Hungarian business law firm providing a comprehensive range of legal services to international and local clients seeking local knowledge and global perspective. The firm comprises business-minded lawyers with sector-specific expertise, creating value for clients by applying a problem-solving approach and delivering innovative solutions.

The firm has a wealth of knowledge in corporate law, M&A, projects and construction, energy, real estate, tax, employment, litigation, privacy and forensics, securitization, estate planning and capital markets.

To address clients’ regional and international concerns, the firm maintains active working relationships with other outstanding independent law firms in Central and Eastern Europe, whilst senior counsel Mr. Blaise Pásztory brings over 40 years’ of US capital market and fund management experience.

KCG Partners Law Firm is the result of the teamwork of passionate and talented lawyers guided by the same principles and sharing the same values: 

  • Our most valuable asset is our people. They are the engine of our business and the key to our success.
  • We push boundaries by looking for innovative solutions that can empower our clients to achieve greater results.
  • We place our experience, commitment and professionalism to your service.
  • We are driven by our vision to shape and lead the Hungarian legal market and become a first choice law firm in our practice areas.

Firm's website: http://www.kcgpartners.com