Although the EU-US Privacy Shield is still in political discussion, it would be very helpful for all EU related companies, if you will be part of it.
In times where the companies have so many legal stuff to check and have to use Model Clauses with US companies, being part of the privacy shield would mean faster legal confirmation within the EU companies.
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@STARFLEET, thanks for the question.
When the EU-US Privacy Shield was adopted by the European Commission, Lithium made the decision to continue with what we believe to be a stronger compliance measure – that is, continuing to enter into EC Standard Contractual Clauses with our EU customers, and continuing to comply with EU data privacy regulations in general – instead of pursuing Privacy Shield registration. In addition, Lithium has begun the internal processes necessary to ensure compliance with the GDPR (new EU regulation which will become effective in 2018), and has already made significant progress toward GDPR compliance. We believe our resources are better utilized continuing on this path, to complete GDPR compliance, rather than be distracted with the EU-US Privacy Shield which, in our opinion, does not add anything of significance to the protections already afforded by the EC Standard Contractual Clauses.
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