Companies could face action from European privacy regulators if the European Commission and United States do not come up with a new system enabling them to shuffle data across the Atlantic in three months, the regulators said on Friday.The highest EU court last week struck down a system known as Safe Harbour used by over 4,000 firms to transfer personal data to the United States, leaving companies without alternatives scrambling to put new legal measures in place to ensure everyday business could continue.
http://uk.reuters.com/article/2015/10/16/us-eu-privacy-idUKKCN0SA2GA20151016
http://in.reuters.com/article/2015/10/16/eu-privacy-idINKCN0SA2GI20151016