According to the new TOS you need privacy policy on all pages display ads. How and where would you add it to a VB forum? For example DP doesn't have one I can see.
I already have one done but you can learn how to create one on your VB forum from this post. http://www.vbseo.com/f34/create-your-own-privacy-policy-using-vb-templates-21043/#post129201 I'm sure DP is working on there's. Once you create your's go into admin panel---> vbulletin options--->site name/url/contact details--> insert privacy url in correct field. It'll appear in your footer on all pages where your shortcut to admin panel is.
You can use your vbulletin faq to add a section for it, like we have here: http://www.webtalkforums.com/faq.php?faq=terms_of_service#faq_privacy_policy Then simply link to it in your footer.
It can be easily put in the footer. I've also included it as a part of my navigation at the top on one of my forums.
you can add the link to PP on the footer. not all the sites have it yet and i think the deadline is middle of May