As a result, perhaps as soon as later this month, but more probably in September, Commissioner Bolkestein will propose that the full Commission formally recognize the U.S. safeharborprinciples as representing adequate data privacy standards, the official said.
Earlier this year, the Commission reached an agreement with the U.S. that a system based on safeharborprinciples did represent adequate levels of data privacy, after the U.S. administration agreed to reinforce consumer access rights and set up dispute settlement procedures for consumers.
As a compromise, Congress could make the program optional, but give employers who adopt the principlessafeharbor from employee lawsuits involving plan investment options.