Google's International Privacy Standard
Peter Fleicher, Google's chief privacy officer, has set himself up with quite a serious challenge. Laws in different countries are quite different, as is they degree to which they are enforced. Even here in the United States laws vary from state to state, and even within each state.
“Another problem facing companies such as Google is that many of the laws are extremely out of date when compared to how the Internet has progressed. An Internet law created by lawmakers just 10 years ago cannot fairly be used today.”
With technology changing faster than some government bodies can alter their relevant laws, and the complexity of getting multiple legal systems working together, there's no telling if this initiative will ever get past the starting line.