February 2, 2016 – Dave Grimaldi, Executive Vice President of Public Policy for the Interactive Advertising Bureau (IAB), today issued the following statement in response to the announcement by Vice-President Andrus Ansip and Commissioner Věra Jourová on the completion of a new U.S.-EU data transfer framework.
“Today’s agreement on a new data transfer framework between the U.S. and EU is a long-awaited and essential step forward for the transatlantic economy. We thank the U.S. and EU negotiating teams for their tireless efforts in bringing the negotiations to a successful conclusion.
International data flows are a crucial component of the U.S. and EU economies, and the digital advertising industry in particular. With nearly $100 billion in advertising revenue between the two continents, this decision will hopefully bring much needed legal certainty to the digital advertising industry. We look forward to evaluating the details of the new agreement and providing further industry input where needed.”