In a highly anticipated decision, Europe's highest court decided July 16 that the EU-U.S. Privacy Shield agreement is invalid. The ruling will impact thousands of companies who'd used Privacy Shield to transfer data from the EU to the U.S. Additionally, the court decided to uphold another data transfer mechanism, standard contractual clauses, but with conditions. The news is a game-changer and casts much uncertainty upon the stability of cross-border agreements. In this episode of The Privacy Advisor Podcast, IAPP Research Director Caitlin Fennessy, Hintze Law's Susan Lyon-Hintze and Future of Privacy Forum's Gabriela Zanfir-Fortuna discuss the decision and what privacy pros should be thinking about in the coming days and weeks.
