Privacy professionals around the world are feverishly working on configuring and implementing the European Union’s new standard contractual clauses. Already effective on 27 September, companies in the European Economic Area entering into new cross-border data transfer arrangements with companies outside the EEA based on SCCs must adopt the new versions. Any recipient that signs the new SCCs promises it has matching agreements in place with its own vendors.
I've co-written an article, addressing some of the key issues, along with Lothar Determann and Helena Engfeldt (US), Michaela Nebel (Germany), Flavia Rebello (Trench Rossi Watanabe, Brazil).
If you are transferring personal data outside of the EEA based upon the old SCCs, now is the time to start looking into putting in place the new SCCs.