Regulatory and Industry News Alerts from Armanino
Article

European Commission Adopts New Standard Contractual Clauses for Data Transfers Under GDPR

by Mirena Taskova, Pippa Akem
June 22, 2021

The General Data Protection Regulation (GDPR) is a uniform European law on data protection and privacy that applies to any company that collects, processes or stores the personal data of anyone in the European Union/European Economic Area (EU/EEA). It also addresses the transfer of personal data outside the EU/EEA.

On June 4, 2021, the European Commission published its final implementing decision, adopting modernized standard contractual clauses (SCCs) under the GDPR for data transfers from controllers or processors in the EU/EEA (or otherwise subject to the GDPR) to controllers or processors established outside the EU/EEA (and not subject to the GDPR).

  • The new SCCs will replace the old three sets that were implemented under the Data Protection Directive 95/46.
  • The implementing decision takes effect on June 27, 2021. This is 20 days after the decision’s publication in the Official Journal of the EU.
  • You can continue signing contracts with t he previous sets for another three months but after September 27, 2021, no new contracts can be signed using the old SCCs.
  • There will be an 18-month transition period, from the effective date of the implementing decision, for agreements concluded before September 27, 2021. You will have until December 27, 2022, to revise your agreements that incorporated the old SCCs and replace them with the new sets.
If you have any additional questions, contact our experts.

 

Stay In Touch

Sign up to stay up-to-date with the latest accounting regulations, best practices, industry news and technology insights to run your business.

Authors
Mirena Taskova - Managing Director, Privacy & Cybersecurity - San Jose CA | Armanino
Managing Director, Head of Privacy and Cybersecurity
Resources
Related News & Insights
Attaining SOC 2 Report Success of SaaS Companies
Article
Reinforce your control system security and differentiate your business from competitors by securing SOC 2 compliance.

October 18, 2021
How Royalty Audits Strengthen Your Bottom Line and Business Relationships
Article
If you aren’t auding your licensees, you’re probably leaving money on the table.

October 07, 2021
5 Privacy Misconceptions Hindering Health Tech Adoption
Article
Proper understanding of global privacy rules is essential for innovation in the healthcare industry.

September 14, 2021