After two years of intense discussions between the U.S. and the European Union about how to address the challenges presented by the Schrems II
decision, President Biden signed an Executive Order on Enhancing Safeguards for United States Signals Intelligence Activities, implementing the long-awaited E.U.-U.S. Data Privacy Framework and clearing a path for transatlantic business. See “U.K. Data Protection Regulator Smooths Way for Fund Managers to Transfer Data to the SEC
” (May 20, 2021).