The controversial data privacy agreement between the European Union and the US - settled finally at April’s EU/US summit in Lisbon - has now received approval from each individual EU member state. It will take effect in October following approval by the European Parliament.
The agreement follows nearly three years of acrimonious wrangling, during which time there were repeated breakdowns in negotiations.
The deal permits US companies to hold personal data on EU citizens provided the data-users adhere to agreed "safe harbour" principles. In cases of non-compliance, EU states are empowered to withhold data from offending companies.
News source: Precision Marketing (UK)