While rumors of a “Safe Harbor 2.0” deal continue to swirl, the European Commission issued new clear guidelines along with a time frame to finish negotiating a fresh deal on Friday.
The Hill reported that the new document offers two options for companies that want to continue data transfers between the EU and the U.S. One possibility, called the model contractual clauses, allows users to give consent to the transfer of their data and include security obligations and safeguards.
The second option, Binding Corporate Rules, would allow personal data to move freely among different branches of a global corporation. With these rules, every European member state would have to authorize where the data is transferred.
Even still, the updated timeline for a new Safe Harbor agreement is January 2016. If a deal does come to fruition, it will have to be approved by an EU court ruling.