WASHINGTON, D.C. — ReadyTech Corp. and the Federal Trade Commission (FTC) have reached a settlement that resolves charges by the commission that the company falsely claimed it was certifying its compliance under the EU-U.S. Privacy Shield framework.
The FTC recently announced its approval of the settlement with ReadyTech that stems from an FTC complaint that the company initiated a Privacy Shield application in 2016 but never completed the process allowing ReadyTech to participate in the Privacy Shield framework. The Privacy Shield framework is designed to allow companies to transfer consumer data from European Union countries to the U.S. in compliance with EU law, according to the FTC.
The settlement includes ReadyTech being prohibited from misrepresenting its EU-U.S. Privacy Shield framework and the Swiss-U.S. Privacy Shield framework participation as well as any participation in a privacy or security program sponsored by the government, self-regulatory or standard-setting organization. The company must also abide by reporting and compliance requirements, the FTC said.
