About a-team Marketing Services
The knowledge platform for the financial technology industry

A-Team Insight Blogs

OneTrust Launches Schrems II Solutions After Landmark EU Judgement

Subscribe to our newsletter

The landmark decision in July from the Court of Justice of the European Union (CJEU) on Schrems II has changed the way that organisations must manage personal data transfers – creating a whole raft of new challenges that firms must urgently address. To legally transfer personal data from the EU to a third country, it must now be shown that the recipient country and company have an equivalent level of data protection to that of GDPR. This means that the most common mechanism for US data transfers, the EU-US Privacy Shield, is essentially invalidated  – and while Standard Contractual Clauses (SSCs) are still usable in theory, that must be evaluated on a case-by-case basis.

The European Data Protection Board (EDPB) recently issued new FAQs on the invalidation of the Privacy Shield, and the wider implications that this may carry for firms seeking to transfer personal data outside of the EU. Although the European Commission is currently working on further guidance, the EDPB have recommended that firms must urgently conduct a risk assessment as to whether their current SSCs provide enough protection within the local legal framework, while the UK’s Information Commissioner’s Office (ICO) has warned firms that they should: “take stock of the international transfers you make and react promptly as guidance and advice becomes available.”

In response, AI-powered data privacy and compliance platform OneTrust this week launched a range of free Schrems II solutions to help organisations respond to the new operational and data challenges posed by the recent ruling. In particular, they are designed to help firms identify existing data transfers and mechanisms, use pre-built templates to assess the validity of those relying on SCCs, and manage any required contract updates and vendor changes. They also seek to help processors implement holistic privacy programs, track guidance on compensating controls for GDPR equivalency, and implement those controls as they are identified.

“The Schrems II ruling presents a brand-new set of challenges and we want to help our customers adapt their processes to continue to transfer personal data in line with the law,” says Kabir Barday, OneTrust CEO and Fellow of Information Privacy (FIP).

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: The Data Office at a Crossroads — AI Governance, Organisational Design, and the Evolving Mandate of the CDO

Date: 28 July 2026 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Who owns AI governance in a capital markets firm – and is the Data Office structured to bear that weight? These questions sit at the heart of A-Team Research’s latest findings, presented here for the first time: the combined...

BLOG

Robust Data Management Still the Silver Bullet for AI Challenges

As the maturity of artificial intelligence applications evolves, financial institutions are finding that the solution to the challenges associated with the technology of data quality and trust can be found in data management. Guaranteeing good outcomes from their models requires that organisations feed them good data, and the only way to ensure that is through...

EVENT

RegTech Summit New York

Now in its 10th year, the RegTech Summit in New York will bring together the RegTech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

AI in Capital Markets Handbook 2026

AI adoption in capital markets has moved into a more disciplined phase. The priority is now controlled deployment: where AI can be used safely, where it can deliver measurable value, and how outputs can be governed, monitored and evidenced. The 2026 edition of the AI in Capital Markets Handbook examines how AI is being applied...