Europe and the US have agreed, in principle, on a new framework for transatlantic data flows to replace the, now invalid, Safe Harbor. The new framework is to be known as the EU-US Privacy Shield  and will provide stronger obligations on companies in the US to protect the personal data of Europeans and stronger monitoring and enforcement by the US Department of Commerce and Federal Trade Commission, including through increased cooperation with European Data Protection Authorities. Squire Patton Boggs’ recent client alert “EU-US Privacy Shield: New Framework for Transatlantic Data Flows  Agreed Upon by EU and US Negotiators” provides more detail, and initial responses to the agreement.

European Union press release