Schrems II: Free VRM Tool to Demonstrate Compliance
Start operationalizing the recent Schrems II ruling with OneTrust Vendorpedia’s Schrems II Tool! We have launched a free Vendor Risk Management Tool to support organizations as they operationalize the Schrems II ruling. The tool helps organizations reduce the burden of these Schrems’s vendor assessments with access to our vendor chasing services™ (where a OneTrust assessment expert “chases” your vendor questionnaires on your behalf). With the free tool, your team gets access to 10 free chasing requests.
Register for the webinar: How to Operationalize Schrems II Impact on September 15 at 11:00 am EDT
The GDPR stipulates that when transferring personal data from the EU to a country that has not been recognized as having an adequate level of protection for personal data (third country), you must be able to demonstrate that the recipient country or company have a level of data protection that is equal to the GDPR, to ensure that the transfer is legal. The Court of Justice of the European Union (CJEU) reached a judgment on the Schrems II case in July 2020, invalidating and adding constraints to two key transfer mechanisms used for EU-US transfers: Privacy Shield and Standard Contractual Clauses (SCCs). Privacy Shield has been invalidated, so it can no longer be used as the transfer mechanism for personal data being transferred to the US from the EU and vice versa. SCCs are still considered valid but must now be taken on a case-by-case basis.
The Schrems II ruling poses a new set of challenges as organizations must now find alternative transfer mechanisms, but don’t worry, OneTrust Vendorpedia is here to help! With our new free Schrems II Free Tool, organizations can:
- Access a community of shared vendor risk assessments and vendor due diligence data
- Collect Schrems-related information from vendors with access to 10 free assessments through the exchange
- Identify data transfers and the mechanisms relied upon
- Assess vendors relying on SCCs with pre-built SCC and Schrems II validation templates
- Manage contract updates and vendor onboarding and offboarding
OneTrust is committed to helping our customers navigate the “big job” ahead! This free Schrems II Free Tool will support our customers and prospects as they respond to the business impact following the invalidation of Privacy Shield.