EU-USA: Commission Implementing Decision of 12.7.2016 pursuant to Directive 95/46/EC of the European Parliament and of the Council on the adequacy of the protection provided by the EU-U.S. Privacy Shield

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See the full text: EU-USA: Commission Implementing Decision of 12.7.2016 pursuant to Directive 95/46/EC of the European Parliament and of the Council on the adequacy of the protection provided by the EU-U.S. Privacy Shield (pdf)

And see: Privacy Shield – Press Breakfast by MEP Jan Albrecht European Parliament, Brussels, July 12th 2016 - Statement by Max Schrems, Summary (pdf):

"Schrems: “Privacy Shield is the product of pressure by the US and the IT industry – not of rational or reasonable considerations. It is little more than an little upgrade to Safe Harbor, but not a new deal. It is very likely to fail again, as soon as it reaches the CJEU. This deal is bad for users, which will not enjoy proper privacy protections and bad for businesses, which have to deal with a legally unstable solution. The European Commission and the US government managed to make everyone miserable, when they could have used this opportunity to upgrade the protections that are crucial for consumer trust in online and cloud services."”

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