On December 10, 2014 the UN General Assembly adopted the United Nations Convention on Transparency in Treaty-based Investor-State Arbitration (the Convention), expanding the application of the UNCITRAL Rules on Transparency in Investor-State Arbitration (Transparency Rules) to cover all Investor-State Arbitrations initiated under investment treaties existing prior to April 1, 2014, irrespective of the applicable arbitration rules. According to a press release, “the Convention constitutes the efficient and flexible mechanism by which the Transparency Rules will apply to disputes arising under the existing 3,000 bilateral and multilateral investment treaties currently in force.” The Convention will be open for signature on March 17, 2015, and will “enter into force six months after the date of deposit of the third instrument of ratification, acceptance, approval or accession.”