What regulation allows American and EU PII exchange without requiring American Entities to follow EU PII Laws?

The Safe Harbor framework was a pivotal regulation that facilitated the transfer of personal identifiable information (PII) between the European Union and the United States by allowing American entities to comply with their own privacy standards, rather than the stricter regulations set forth by EU laws. This agreement was significant because it enabled U.S. companies to access and process European citizens' data without having to fully adhere to the EU’s privacy requirements, which are designed to protect consumer rights and data privacy.

Safe Harbor established certain principles that American organizations needed to follow to ensure that they maintained a level of privacy protection that was considered adequate by EU standards. This framework was eventually replaced by the Privacy Shield Framework, due to developments in privacy regulations, but the essence of Safe Harbor was to provide a legal pathway for data exchanges that otherwise would have been hampered by differing privacy laws.

The other options listed do not pertain to the specific exchange of PII between the U.S. and the EU under a regulatory framework like Safe Harbor. The EU itself refers broadly to the European Union and does not represent a regulation. HIPAA (Health Insurance Portability and Accountability Act) focuses specifically on the health information privacy of individuals and is not concerned with general PII transfer. SOX (Sarban