Employee Share Plans in Europe and the USA - Sorainen

Employee Share Plans in Europe and the USAFinlandbeen informed of, the employer must inform the employees of such processingactivities 15 . If the data processing is outsourced to an outside plan administrator,the employer must notify the outsourcing to Finland's Data ProtectionOmbudsman.8.3 International transfers of personal data within the EU/EAA or to countries whichthe European Commission has included on its list of countries which provideadequate protection for personal data are treated as domestic transfers. Inaddition, transfers outside the EU/EEA may also be permitted based on theemployee's consent or by providing adequate protection through contractualarrangements. Other bases for transferring personal data related to internationalshare plans are seldom relevant.8.4 Transfers based on adequate protection in the destination country as confirmedby the European Commission, the data subject's unambiguous consent or onEuropean Commission model documents do not need to be notified to the DataProtection Ombudsman. If other contractual arrangements or bases for thetransfers are used, these will generally require notification.9. Employment lawPlease refer to paragraph 4 on pages 5-6 of this guide. This explains theemployment law issues which are generally applicable to a greater or lesserdegree in all the countries covered by this guide. There is a risk that employeesmay claim a right to continued participation in an employee share plan or thatrights under a plan may be included in compensation on termination.Companies should seek specific advice on these issues and other employmentlaw issues which may be applicable.15Where the number of employees is at least 30, the employer must inform the employees of theintended data processing in co-determination proceedings as required under the Act on Co-operationwithin Undertakings (334/2007).UK/1729295/03 53 September 2010