SCCs must be replaced with new version before year-end. In addition to SCCs Transfer Impact Assessment TIA will need to be conducted. Certain EEA non-EEA companies involved in sharing of personal data must comply with deadline. European Court of Justice Schrems II decision.
Transfer Impact Assessment or TIA is new to world of data privacy. Term not referenced within any academic journals or secondary sources until 2021. Refers to a written analysis, conducted by a controller or a processor, of impact that a transfer of personal data to country outside of EEA.
The European Union EU and the United States US government have now reached an agreement in principle for a Privacy Shield 2.0 to replace the original Privacy Shield Framework
US and EU announced agreement in principle on new legal framework for GDPR-compliant transfers of EU personal data to the United States. The agreement reflects US commitment to implementing new safeguards designed to address concerns that led to July 2020 Schrems II in ECJ.
In a U.S. filing, Meta said it is considering leaving Europe if it can no longer exchange data from European users with the U.S., due to the EU Schrems II privacy decision