The International Trade Administration (ITA) announced that the 500th company was posted to the EU-US Privacy Shield Framework list on Tuesday, October 18th. It’s a tremendous accomplishment, and there are still more to come. More than 1,500 companies have submitted self-certifications, providing strong endorsement of the new framework.
The ITA press release stated:
WASHINGTON – The EU-U.S. Privacy Shield Framework today achieved a milestone with the posting of the 500th company to the Framework list since it began accepting certifications on August 1, 2016. The U.S. Department of Commerce’s International Trade Administration manages the newly created Privacy Shield program, and conducts a robust review of each submission before finalizing a company’s certification and placing it on the publicly available Privacy Shield list.
With our partners in Europe, we have created in Privacy Shield a framework that both strongly protects privacy and facilitates trade, said Acting Assistant Secretary of Commerce for Industry and Analysis Ted Dean. “The pace of the Privacy Shield program’s growth is a testament to the critical need for this data transfer mechanism, which underpins almost $300 billion in digitally deliverable services traded across the Atlantic each year.”
In total, more than 1,500 companies have submitted self-certifications to the site since the new Framework launched, and additional certifications are being reviewed each day.
Organizations interested in self-certifying, exporters, and other stakeholders can visit www.privacyshield.gov for more information.