The administrative arrangement is a non-binding arrangement for the protection of personal data that financial supervisory authorities can choose to sign. The full text can be consulted here.
The administrative arrangement is intended to provide safeguards for personal data transfers as part of international cooperation and supplements existing information sharing arrangements or memoranda that may already exist. It offers a mechanism consistent with the General Data Protection Regulation (GDPR) under which EEA authorities (European Economic Area) can share personal data with non-EEA authorities in connection with supervisory and enforcement matters.
The FSMA is a signatory to this administrative arrangement. Appendix A contains a list of all EEA (European Economic Area) authorities that have joined the administrative arrangement. The non-EEA authorities that have joined the administrative arrangement are listed in Appendix B.
The European Data Protection Board, an independent European body that contributes to the consistent application of data protection rules throughout the European Union, published its opinion that the administrative arrangement ensures appropriate safeguards when personal data are transferred on this basis to public bodies in non-EEA countries not covered by a European Commission adequacy decision.
The Belgian Data Protection Authority approved the administrative arrangement on 5 June 2019, in accordance with Article 46 (3) (b) of the GDPR.