New Standard Contract Language for Data Transfers Facilitates Lawful Personal Data Transfers to/from EU and U.S. -

In response to the EU Court of Justice Schrems II opinion, which declared that the former EU-US Privacy Shield did not adequately protect personal data, the European Commission has issued Standard Contract Clauses (SCCs) for Data Transfers which may be used to avoid GDPR violations and potential fines of up to 4% of a company’s worldwide annual sales. The SCCs must be used, without modification, in agreements relating to sharing personal data of EU residents. Companies have until December 22, 2022, to adopt the SCCs.