REDWOOD CITY, Calif.,
Nov. 11, 2019 /PRNewswire/
-- Equinix, Inc. (Nasdaq: EQIX), the global interconnection
and data center company, today announced that it has completed the
rigorous process of Binding Corporate Rules (BCRs) approval by
European Union (EU) regulators. In doing so, it becomes the first
company to have its BCRs approved by the European Data Protection
Board (EDPB) consisting of all 27 Member States set up under the
new GDPR regime.
BCRs are designed to allow multinational companies to transfer
personal data from the European Economic Area (EEA) to their
affiliates located outside of the EEA, while adhering to the
highest standards, as demanded by EU regulators. Achieving BCRs
compliance ensures that the personal data flows that Equinix adopts
to operate its global enterprise and support its global customer
base are GDPR compliant. To achieve this, Equinix demonstrated its
robust security parameters for obtaining, processing and storing
personal data used in order to provide services to customers on its
global platform.
The process to get the BCRs approved with the Information
Commissioner's Office in the U.K. (ICO) as the lead data protection
authority, was conducted against the backdrop of uncertainty around
Brexit and complicating factors as to what a possible no deal exit
from the EU may mean for the standing of the ICO and the current
BCRs application.
The BCRs certification comes as governments around the world
consider and implement data privacy regulations modeled after the
GDPR, including locations where Equinix does business, such as in
California and Brazil. By ensuring data privacy compliance in
any market deployed, Equinix's global footprint enables its
customers to conduct business in a way that can gain a competitive
business advantage across the world's digital economy. Indeed, 86%
of Equinix customers deploy in multiple markets, with 73% of them
operating across multiple regions.
In an independent survey commissioned by Equinix of over 2,450
IT decision-makers across the world, the resulting need for a focus
on data regulations was highlighted. 69% of IT decision-makers
globally listed complying with data protection regulations as a top
priority for their business, while 43% of IT decision-makers
globally reported changing regulatory requirements around data
privacy are a threat to their company.
Highlights / Key Facts
- The European Data Protection Board ensures the consistent
application of GDPR throughout the European Economic Area and since
GDPR took effect, has a role to play in approving Binding Corporate
Rules (BCRs) applications.
- Historically, Equinix has used the EU Model Clauses in its
inter-company agreements to facilitate such data transfers from the
EU, which will continue to be in place, but the BCRs provide the
added "gold standard" in providing adequate safeguards to enable
intra-group transfers to meet operational requirements and to
facilitate the transborder flow of data as necessary today to run a
global enterprise.
- Following approval by the EDPB, the ICO as the lead data
protection authority for Equinix's BCRs application, proceeded to
formally approve and adopt the BCRs.
- Equinix's BCRs cover personal data transferred from legal
entities of Equinix in the EU worldwide, including employee and
business contact information, i.e., customer, partner, supplier and
vendor information.
- These BCRs are a critical part of the overall Equinix Global
Privacy Policy, that ensures data privacy compliance managed by the
Equinix Privacy Office, and in a manner that supports Equinix's
global corporate strategy.
- The full opinion issued by the EDPB can be viewed here:
https://edpb.europa.eu/sites/edpb/files/files/file1/edpb_opinion_201915_equinixbcrs_en.pdf
- The full copy of the approved BCRs is available on the Equinix
website at:
https://www.equinix.com/company/legal/privacy/global-privacy-policy/
Quotes
- Peter Waters, SVP Legal EMEA
and Chief Privacy Officer, Equinix:
"As a company
that helps facilitate the movement of data globally, we felt that
seeking the highest standard of compliance around international
transfers of personal data was the right approach for both Equinix
and our global customer base, and that meant leveraging BCRs. As
our BCRs were the first-ever to go through the process post-GDPR,
we were put under scrutiny by the data protection regulators across
the 27 EU member states. To have secured the approval of our BCRs
in this context is a real success story. We believe this is an
important milestone for Equinix in our own compliance strategy and
for our global customers and partners who look to us to provide the
security and trust required around how we operate our global
enterprise."
- Russell Poole, Managing
Director U.K., Equinix:
"As the U.K. continues to prepare to leave the European Union,
companies that leverage Equinix as a business partner can be
confident that their personal data we obtain will continue to be
protected to the high standards set by the European Union,
regardless of what a final Brexit deal may look like. This will
allow the seamless transfer of their personal data to continue
unabated across Equinix's global platform."
About Equinix
Equinix, Inc. (Nasdaq: EQIX) connects the world's leading
businesses to their customers, employees and partners inside the
most-interconnected data centers. On this global platform for
digital business, companies come together across more than 50
markets on five continents to reach everywhere, interconnect
everyone and integrate everything they need to create their digital
futures. www.equinix.com.
Forward-Looking Statements
This press release contains forward-looking statements that
involve risks and uncertainties. Actual results may differ
materially from expectations discussed in such forward-looking
statements. Factors that might cause such differences include, but
are not limited to, the challenges of acquiring, operating and
constructing IBX data centers and developing, deploying and
delivering Equinix products and solutions; unanticipated costs or
difficulties relating to the integration of companies we have
acquired or will acquire into Equinix; a failure to receive
significant revenues from customers in recently built out or
acquired data centers; a failure to complete any financing
arrangements contemplated from time to time; competition from
existing and new competitors; the ability to generate sufficient
cash flow or otherwise obtain funds to repay new or outstanding
indebtedness; the loss or decline in business from our key
customers; risks related to our taxation as a REIT; and other risks
described from time to time in Equinix filings with the Securities
and Exchange Commission. In particular, see recent Equinix
quarterly and annual reports filed with the Securities and Exchange
Commission, copies of which are available upon request from
Equinix. Equinix does not assume any obligation to update the
forward-looking information contained in this press
release.
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SOURCE Equinix, Inc.