In an op-ed for Out-Law.com, Annabelle Richard writes why Privacy Shield should be expanded to cover banks, insurers and telcos. Only companies subject to the jurisdiction of the Federal Trade Commission or the Department of Transportation can sign up for Privacy Shield. Companies can use model contracts to complete their transfers, but if they are invalidated, it could create problems. “If model clauses are invalidated it will threaten data flows that support trade and the health of the European economy. Banks, insurers and telcos would be among many U.S. businesses whose ability to carry out everyday business operations would be made more challenging and costly,” writes Richard. “As it stands currently, though, banks, insurers and telcos would be unable to turn to Privacy Shield self-certification as a route to continue trans-Atlantic data flows given the limited scope of the scheme.” Editor’s Note: U.S. Department of Commerce Deputy Assistant Secretary Ted Dean will speak as part of “Future Impacts and Preparation for the New Privacy Shield” at the IAPP Europe Data Protection Congress, in Brussels, 7-10 Nov..
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