The European Court of Justice (ECJ) is today re-negotiating whether companies may transfer personal data to the US. In this context, the ECJ wants to clarify whether the EU-US Privacy Shield agreement achieves an adequate level of data protection.
eco Chair Oliver J. Süme says: “The EU-US Privacy Shield data protection agreement between the EU and the USA or the so-called Standard Contractual Clauses with third countries provide indispensable legal grounds for the international transfer of personal data. In light of global digital transformation, the Privacy Shield has an increasingly important function for the European economy and is also a prerequisite for successful digitalization. The digital economy depends on reliable and viable regulations on the part of policy makers; companies need legal security.”