The United States and Switzerland finalized a new “Privacy Shield” Agreement on Wednesday that mirrors the existing U.S.-E.U. Privacy Shield framework. The new deal will allow multinationals to continue to transfer data between the U.S. and Switzerland while complying with Swiss data protection requirements.
The new deal replaces the existing U.S.-Swiss Safe Harbor Agreement, the validity of which has been in question since the Schrems decision was issued in October of 2015. Companies that have maintained their Swiss Safe Harbor certification may begin certifying under the new U.S.-Swiss Privacy Shield framework on April 12th. The 90 day delay is intended to provide companies with time to review the new Swiss principles and the commitments they entail.Read More