The USA has adopted the legal framework for a new EU-US data protection agreement.
On 7 October 2022, President Biden signed an Executive Order enshrining the new EU-US data protection framework “Privacy Shield 2.0” in US law. Its aim is to ensure an adequate level of data protection – as required by the General Data Protection Regulation (GDPR) – when personal data is transferred from the EU to the US. In a next step, the GDPR-adequacy of this Executive Order will now be reviewed and determined by the European Commission. With its intention of creating legal clarity and certainty for transatlantic data transfers, the introduction of the Privacy Shield 2.0 is a welcome development.
With our GSK Update we provide a summary of the Executive Order “Privacy Shield 2.0” and a brief outlook on the further development.
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