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: Executing the Migration to Cloud to Enable Scalability and Innovation

Date: 22 September 2026 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Cloud-based services and processing have become essential to financial institutions as their data management demands have become more complex and expansive. Thousands of organisations have made the jump from their limited on-premises tech stacks to the near-infinite scalability opportunities...

BLOG

Alkymi’s AI-led Private Credit Seeks to Bring Transparency to Growing Market

Credit has become a key growth pole for private investors as loans and similar instruments have benefited from rising rates and wider public credit spreads. Interest in the sector is so strong that Morgan Stanley forecasts its value will rise to $5tn by 2029 from $3tn this year. The difficulty for institutional investors clamouring to...

EVENT

Eagle Alpha Alternative Data Conference, London, hosted by A-Team Group

Now in its 8th year, the Eagle Alpha Alternative Data Conference managed by A-Team Group, is the premier content forum and networking event for investment firms and hedge funds.

GUIDE

Regulatory Data Handbook 2026 – Fourteenth Edition

Welcome to the fourteenth edition of A-Team Group’s Regulatory Data Handbook. Supervisors increasingly expect firms to demonstrate which rules apply, which data supports each obligation, who owns the control and how exceptions are identified and resolved. Policies and implementation programmes must now be supported by records that can withstand regulatory scrutiny. This edition examines material...