On July 16, IAB released the following statement in response to the decision by the Court of Justice of the European Union to invalidate the EU-U.S. Privacy Shield framework.
“IAB is disappointed by today’s judgement by the CJEU.
The EU-US Privacy Shield Framework has been a model of cooperation between the EU and U.S. and has greatly contributed to the success of the transatlantic digital advertising marketplace.
More than 5,000 businesses, including many IAB member companies, participated in Privacy Shield as a means to transfer data in a streamlined and cost-effective way that ensured strong data privacy protections.
IAB will continue to serve as a resource for our member companies as they manage the uncertainty created by today’s decision. We will also remain engaged with the U.S. and EU governments to find a sustainable solution to support transatlantic digital trade.”
Contact Alex Propes (firstname.lastname@example.org), Vice President, Public Policy & International, IAB, for more information.