On April 13, 2016, the EU’s Working Party of Article 29 (the “WP29”) issued an opinion on the recently released draft adequacy decision regarding the new data transfer framework negotiated between the US government and the EU Commission — the “Privacy Shield” that would replace the Safe Harbor agreement. This alert examines the WP29’s criticisms of the draft adequacy decision, and the impact they will have on companies concerned with EU-US data transfers.