The EU approved the new agreement that governs data flow between EU and US and that replaces the previous accord, the Safe Harbor. The new pact offers improves protection as it provides that that data stored in the US about EU citizens must be given “equivalent” protection by law to what it would receive if stored in the EU. European Commissioner Jourová said: “The EU-U.S. Privacy Shield is a strong new framework, based on robust enforcement and monitoring, easier redress for individuals and, for the first time, written assurance from our U.S. partners on the limitations and safeguards regarding access to data by public authorities on national security grounds.
This new pact seems promising but issues are already emerging. For instance, with the exit of the UK from the EU, it is not clear whether the Privacy Shield Pact will remain in force in the UK.
Read more about the Privacy Shield Pact: http://europa.eu/rapid/press-release_IP-16-433_en.htm