On 13 December, a news release from the EU advised that the Framework would allow safe trans-Atlantic data flows and address the concerns raised by the Court of Justice of the EU in its Schrems II decision of July 2020. The draft adequacy decision, which reflects the assessment by the Commission of the US legal framework and concludes that it provides comparable safeguards to those of the EU, has now been published and transmitted to the European Data Protection Board (EDPB) for its opinion. The draft decision concluded that the US ensures an adequate level of protection for personal data transferred from the EU to US companies.
https://ec.europa.eu/commission/presscorner/detail/en/IP_22_7631
https://ec.europa.eu/commission/presscorner/detail/en/QANDA_22_7632