As is well-known, on October 6 2015, the European Court

of Justice with the judgment C-362/14 declared the decision n. 520/2000/EC of the European Commission invalid, this approved the scheme of personal data transfer under the old Safe Harbour framework. The judgment confirmed the Commission’s approach since November 2013 to review the Safe Harbour arrangement, to ensure a sufficient level of data protection as required by EU law.

Here you can

find the communication by European Commission:

http://europa.eu/rapid/press-release_IP-16-216_en.htm

Here you can find the communication by WP29:

http://ec.europa.eu/justice/data-protection/article-29/press-material/press-release/art29_press_material/2016/20160203_statement_consequences_schrems_judgement_en.pdf