EU: No Safe Harbor for US firms

October 7, 2015

A European court on Tuesday tossed out a long-standing agreement between the United States and European Union over how private data handled by Facebook and other companies can be exchanged, inflaming transatlantic trade tensions.

The European Court of Justice’s ruled that U.S. companies can’t be assumed to meet standards for keeping data private following revelations about U.S. surveillance practices by former defense contractor-turned-whistleblower Edward Snowden.

 But without the protection of the , more than 4,000 companies in industries including technology, financial services and hospitality will be left scrambling to meet alternative regulations in order to transfer data across the Atlantic.

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