The European Union has formally adopted the long-awaited Privacy Shield, which replaces the Safe Harbor framework as a mechanism to comply with E.U. data protection requirements for the E.U.-U.S. transfer of personal data. Companies can begin to self-certify compliance with the framework on August 1, 2016. “Companies cannot take the Privacy Shield lightly. It’s a much more detailed framework with more accountability” than Safe Harbor, Sidley Austin senior counsel Cam Kerry told The Law Report Group. We review the Privacy Shield’s background, its key requirements and examine whether, when and how to join. See also “Foreign Attorneys Share Insight on Data Privacy and Privilege in Multinational Investigations” (Jun. 28, 2016).