MLex: Nearly five months after the EU’s top court annulled the EU-US Privacy Shield—a legal tool used by companies to legally transfer data across the Atlantic—US companies are now realizing that strict conditions put on a second mechanism (Standard Contractual Clauses (SCCs)) that was upheld by EU judges may leave them with no legal basis for transatlantic personal data transfers. That legal dilemma is causing grave concern for many US companies given the $US 7.1trn trade relationship between the US and Europe.
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