October 6, 2015 – Mike Zaneis, Executive Vice President of Public Policy and General Counsel at the Interactive Advertising Bureau (IAB), today issued the following statement in response to the ruling by the Court of Justice of the European Union on the case of Maximillian Schrems v Data Protection Commissioner.
“Today’s decision by the European Court of Justice jeopardizes thousands of businesses across the Atlantic. For nearly 15 years, the Safe Harbor agreement has provided IAB member companies with an efficient means to comply with EU privacy law. Thanks in part to the Safe Harbor agreement, The US and EU are among the world’s most vibrant digital advertising marketplaces, together representing $84 billion in annual revenue, or nearly two thirds of global digital advertising revenues. This robust digital advertising ecosystem has provided citizens across Europe with countless free digital services, including news, entertainment, email, and social networks. The weakening of the Safe Harbor agreement limits European consumers’ access to valuable digital services and impedes trade and innovation. We urge the US and EU to agree on new rules for the transatlantic transfer of data, taking into account the CJEU’s judgment.”
IAB US & IAB EU Joint Position on U.S.-EU Safe Harbor Framework (October 29, 2014)
