Commerce Secretary Wilbur Ross Welcomes Privacy Shield Milestone- Privacy Shield has Reached 5,000 Active Company Participants
For Immediate Release: Wednesday, September 11, 2019
Contact: Office of Public Affairs (202) 482-3809
WASHINGTON – Today, U.S. Secretary of Commerce Wilbur Ross announced that more than 5,000 companies are now actively certified under the EU-U.S. Privacy Shield Framework. These companies, approximately 70 percent of which are small and medium-sized enterprises, rely on the Privacy Shield program for transfers of personal data from the European Union to the United States in accordance with the EU's General Data Protection Regulation.
"Privacy Shield is an essential trade instrument, safeguarding transatlantic relations and the $5.5 trillion that crosses the Atlantic each year," said Secretary Ross. "By enabling the movement of online information across national borders, Privacy Shield allows our citizens and businesses to communicate, transact, and innovate—with increasingly widespread benefits for our societies and our economies."
Finalized in 2016, Privacy Shield is a certification mechanism that requires companies to make public, legally enforceable commitments to comply with the Shield's data protection principles. In addition, Privacy Shield offers unprecedented levels of recourse to EU individuals, including an extensive dispute settlement system (capped by an arbitration mechanism), and a State Department ombudsperson to investigate any inquiries.
Privacy Shield is managed by the International Trade Administration at the U.S. Department of Commerce in close cooperation with U.S. and EU stakeholders, including the Federal Trade Commission, the U.S. Department of State, and both European Union and EU Member State authorities.
On September 12-13, the Commerce Department of will host the Third Annual Joint Review of the EU-U.S. Privacy Shield Framework in Washington. Building on the success of the first and second joint reviews in 2017 and 2018, this review will showcase the enduring strength and integrity of the Privacy Shield program, and the United States' continuing commitment to protecting the personal data of citizens on both sides of the Atlantic.
To learn more about the Privacy Shield program or to view the list of participating U.S. organizations, please visit www.privacyshield.gov