All about Binding Corporate Rules (BCR)
In the current scenario of globalisation and internationalisation, where the exchange and traffic of data and information between countries all over the world is part of the daily activity of so many companies, the protection of personal data plays a very important role and must be given the relevance it deserves.
In order to standardise and regulate the processing and transfer of this data, the well-known GDPR was developed, which applies both between companies operating in EU member states and between companies from non-EU member states operating within the EU.
However, in the case of large multinationals with headquarters in Europe and numerous subsidiaries in non-member countries, the management of data, both internal and customer data, becomes a complex, time-consuming and resource-intensive task, but absolutely necessary to ensure proper compliance with data protection laws.
For these cases, Binding Corporate Rules (BCR) have been created.
What are Binding Corporate Rules (BCR)?
Binding corporate rules are aimed at groups that are established in several EU countries and regularly transfer data outside the EU. Binding Corporate Rules (BCRs) are data protection policies to which EU-based companies adhere for transfers of personal data outside the EU within a group of companies or firms.
What are the advantages of integrating the Binding Corporate Rules into your multinational group?
Applying the BCRs within a multinational or a large corporate group enables the group to:
- comply with the principles of the GDPR;
- avoid signing as many contracts as there are transfers within the group;
- the implementation of a global governance policy on personal data protection;
- ensuring a satisfactory, homogeneous and comprehensive level of protection in the personal data transfer policy with its customers, partners and employees;
- make data protection one of the group’s ethical concerns.
How to implement the BCR project?
To integrate BCRs into the whole of a multinational group, it is necessary to gather certain documents and submit them in the form of a dossier to a competent data protection authority.
If you would like more details, advice or support on how to prepare the BCR dossier for your multinational group, please do not hesitate to contact our experts.