2018 ANNUAL REPORT 7 2018 ANNUAL REPORT International: CFA joined other groups in the United States and around the world to urge member states of the United Nations Commission on International Trade Law to reject the inclusion of investor state dispute resolution in trade and investment treaties. Through the Transatlantic Consumer Dialogue (TACD), CFA and other groups also urged the European Commission to abandon the idea of a creating a multilateral investment court and not to include any type of investor state dispute settlement mechanism in trade agreements. CFA helped to develop TACD policy resolutions concerning the use of technologies in financial services and the intersection of competition, privacy, and consumer welfare. In addition, CFA participated in the work of the OECD Committee on Consumer Policy, which focused on a variety of digital issues, including online advertising and trust in online platforms. Investor Protection: CFA’s investor protection activities once again centered on efforts to improve protections for investors in their dealing with broker-dealers and investment advisers. The first part of the year was dominated by ultimately unsuccessful efforts to defend the Department of Labor’s strong, pro-investor conflict of interest rule against an industry legal challenge. When it became clear the Trump Administration was unlikely to continue to defend the rule in court, we assisted others in their efforts to intervene in the litigation in order to defend the rule. This included providing legal support to the California Attorney General’s office and to the AARP. Unfortunately, their efforts proved unsuccessful, as their motions to intervene were denied by the same court that vacated the rule. As the year went on, CFA devoted increasing attention to efforts to address the issue at the SEC and in the states. When the SEC proposed a weak, anti-investor rule, CFA analyzed and commented on the proposal and led investor group responses to the rule. That included spearheading a group effort to get the Commission to test its proposed disclosures before finalizing a rule and, when the Commission appeared reluctant to do so, working with allies to test the disclosures independently. At the same time, CFA stepped up its efforts at the state level. This included coordinating investor group opposition to an anti-investor proposal from National Association of