The EU just published the details of its new data-sharing agreement with the US

The European Commission released the details of "Privacy Shield" - a new framework for governing the transfer of data cross the Atlantic.

Last year, the European Court of Justice (ECJ) struck down Safe Harbor, which had for the past decade acted as a legal mechanism to transfer user data between Europe and the US - throwing the thousands of companies that relied on it into chaos, and sending negotiators scrambling for a replacement.

In early February, negotiators finally agreed on the replacement - Privacy Shield - the details of which have been published Monday.

The new agreement still needs to be approved by European Union members.

Here are the key details, via the press release:

• Companies have to resolve complaints within 45 days, with a "Alternative Dispute Resolution" solution available (free of charge).
• There are "clear safeguards and transparency obligations on US government access.
• The US has to create an independent ombudsman to allow for redress for Europeans.
• It will be reviewed yearly.

The original Safe Harbor was invalidated by the ECJ over concerns about US mass surveillance, which meant Europeans' data being sent to the US weren't being given adequate protections. The case was sparked by a legal challenge by Austrian privacy activist Max Schrems against Facebook.

Schrems has indicated his displeasure with the new Privacy Shield agreement. In a statement published Monday, he said: "The EU and the US tried to put about ten layers of lipstick on a pig, but the core problems were obviously not solved."

Schrems has previously indicated he may again take legal action if he finds Safe Harbor's replacement inadequate - so this reaction suggests that if Privacy Shield is approved, we may see it tested in the courts at some point soon.

This story is developing...