The new Privacy Shield language may be voted on in July The U.S. and the European Union have reportedly reached an agreement on the language of a key data transfer pact, including limits on U.S. surveillance.The revamped EU-U.S. Privacy Shield was sent to EU member states overnight, according to a report from Reuters. Privacy Shield would govern how multinational companies handle the private data of EU residents.Member states are expected to vote on the proposal in July, unnamed sources told Reuters. Representatives of the EU and the U.S. Department of Commerce didn’t immediately respond to requests for comments on the reported deal.Critics of Privacy Shield, including European privacy regulators, have said the deal is too complex and fails to reflect key privacy principles. The new language sent to member states includes stricter data-handling rules for companies holding Europeans’ information, Reuters reported. The new proposal also has the U.S. government explaining the conditions when they would collect data in bulk, according to the report.Negotiators on both sides of the Atlantic have been rushing to craft a new trans-Atlantic data transfer agreement since the Court of Justice of the European Union struck down Safe Harbor, the previous transfer pact, last October. The court ruled that Safe Harbor didn’t adequately protect European citizens’ personal information from massive and indiscriminate surveillance by U.S. authorities. Safe Harbor had been in place since 2000. Related content news analysis DHS unveils one common platform for reporting cyber incidents Ahead of CISA cyber incident reporting regulations, DHS issued a report on harmonizing 52 cyber incident reporting requirements, presenting a model common reporting platform that could encompass them all. By Cynthia Brumfield Sep 25, 2023 10 mins Regulation Regulation Regulation news Chinese state actors behind espionage attacks on Southeast Asian government The distinct groups of activities formed three different clusters, each attributed to a specific APT group. By Shweta Sharma Sep 25, 2023 4 mins Advanced Persistent Threats Cyberattacks feature How to pick the best endpoint detection and response solution EDR software has emerged as one of the preeminent tools in the CISO’s arsenal. Here’s what to look for and what to avoid when choosing EDR software. By Linda Rosencrance Sep 25, 2023 10 mins Intrusion Detection Software Security Monitoring Software Data and Information Security feature Top cybersecurity M&A deals for 2023 Fears of recession, rising interest rates, mass tech layoffs, and conservative spending trends are likely to make dealmakers cautious, but an ever-increasing need to defend against bigger and faster attacks will likely keep M&A activity steady in By CSO Staff Sep 22, 2023 24 mins Mergers and Acquisitions Data and Information Security IT Leadership Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe