FTC Welcomes New APEC Privacy System for Consumer Data
The Federal Trade Commission has welcomed the November 13, 2011 approval of the forum on Asia-Pacific Economic Cooperation (APEC) of a new initiative to harmonize cross-border data privacy protection among APEC members. The initiative is designed to enhance the protection of consumer data that moves between the U.S. and other APEC members.
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New Privacy System Expected to Be Launched Next Year
The FTC, Commerce Department, U.S. corporations, and privacy advocacy organizations have worked together with their counterparts in other APEC economies to formulate new APEC cross-border privacy rules. FTC Commissioner Ramirez stated that the APEC privacy rules have the potential to significantly benefit companies, consumers, and privacy regulators and move the APEC countries closer to global interoperability of privacy regimes.
The APEC privacy system is a self-regulatory code of conduct designed to create more consistent privacy protections for consumers when their data moves between countries with different privacy regimes in the APEC region. APEC member economies expect to launch the new privacy system next year.
Companies that Want to Participate in System Will Undergo Review & Certification Process
Companies that wish to participate in the APEC privacy system will undergo a review and certification process by third parties that will examine corporate privacy policies and practices and enforce the new privacy rules. In addition, the FTC and privacy authorities in the APEC region that choose to participate in the program will serve as backstop enforcers of the APEC privacy rules.
(See ITT's Online Archives 11111430 for summary of joint statements and documents issued at the APEC meeting.)