Fines of 4% turnover for non-compliance with new GDPR regulationsBusiness advisory Europe Legal
European companies need to comply with the updated Standard Contractual Clauses (SCCs) under the General Data Protection Regulation (GDPR) by the end of 2022
European companies need to update the SCCs with their non-European providers and partners to comply with the GDPR. If they don’t incorporate the new SCCs into all international data transfer agreements by December 27, 2022 they could be fined 4% of annual turnover. We have organised a workshop to help our TGS members comply with the new European regulations.
What are the risks for non-compliance with the new General Data Protection Regulations in 2022?
The European Commission issued on June 4, 2021 new Standard Contractual Clauses (SCC) under the General Data Protection Regulation (GDPR). They regulate the data transfers from European controllers or processors to entities outside Europe.
Companies can’t conclude any more contracts incorporating the earlier sets of SCCs. Moreover, they are required to comply with the GDPR Standard Contractual Clauses by the end of 2022. European firms need to take actions as soon as possible to be compliant in their international data transfers before they face financial sanctions.
Companies that don’t comply with the new European regulations will face financial sanctions
Companies are being pressured to update their Standard Contractual Clauses with all their non-European providers and partners. They need to integrate the new SCCs in every one of their international data transfers.
The competent European Data protection authorities may fine any company that doesn’t comply with the updated GDPR. The fine can reach 4% of the turnover of the European company.
TGS helps you comply with the new GDPR
We are hosting a “GDPR STANDARD CONTRACTUAL CLAUSES (SCCS)” webinar for our TGS members. Caroline Belotti, from TGS France Avocats, will hold this webinar. She will explain the actions you need to take to make your international data transfers compliant before the end of 2022.
There are two sessions on June 14, 2022 for TGS members to register and learn how to comply with the new European regulations. Visit our TGS U page for further information on this webinar and register in advance.
We accompany our European TGS members to comply with the new General Data Protection Regulation (GDPR)
European companies need to comply with the new SCCs before the end of 2022. In order to help our European TGS members avoid financial sanctions, we are hosting a webinar with Caroline Belotti from TGS France Avocats. She will tell you the actions you need to take to be compliant with the new regulations before December 27, 2022.
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