Since the most recent mechanism to ensure “safe” data transfers between the European Union and United States was rescinded, companies on both sides of the Atlantic have hoped a viable replacement would come into force quickly to provide the same level of legal assurance.

Fortunately, momentum is gathering toward a new standard.

Neil Hodge is a freelance business journalist and photographer based in Nottingham, United Kingdom. He writes on insurance and risk management, corporate governance, internal audit, compliance, and legal...