The European Commission is aiming to conclude a data transfer agreement with the United States by summer, as stated by a spokesperson. This comes after the Irish privacy regulator granted Meta Platforms a five-month period to cease transferring users’ data across the Atlantic, reported Reuters.
According to a spokesman from the Commission during a daily news conference, the data protection framework between the EU and the U.S. is expected to be operational by the summer, providing stability and legal certainty.
In late 2020, the EU and US made a political agreement for a new data transfer arrangement to replace the previous one that was invalidated by the European Court of Justice following a challenge by privacy advocates.
Read more: Irish Regulator Closer to Blocking Meta Data Transfers
The commission announced that the new framework for data protection is nearing finalization and aims at addressing privacy concerns for companies. This follows a record €1.2 billion fine imposed on Meta by the Data Protection Commission for violating EU data protection laws and ordering suspension of the transfer of European user data.
New privacy guarantees have been agreed upon with the US and will apply to all transatlantic data transfers, regardless of the transfer mechanism used.
Negotiations resulted in guarantees with the United States for the EU-US privacy framework. The framework is anticipated for full functionality by summer, providing legal certainty and stability for businesses and strict protection for citizens’ privacy.