Introducing P.R.I.M.E. Finance – The Hague Based Dispute Resolution Facility for Financial Market Disputes

There has been growing interest in arbitration in the financial markets, and no doubt both concerns about litigating financial market disputes in many jurisdictions, particularly emerging market jurisdictions, and certain enforcement advantages of arbitration may have contributed.

P.R.I.M.E. Finance stands for a Panel of Recognised International Market Experts in Finance, and its list of experts currently includes a group of nearly 100 senior legal and financial market figures drawn from around the world and representing, collectively, more than 2,500 years of relevant experience. Conceived against the backdrop of the financial market crisis, P.R.I.M.E. Finance is a new and innovative complement to global regulatory reform. The institute aims to assist judicial systems in the settlement of disputes on complex financial transactions in both developing as well as matured financial markets.

P.R.I.M.E. Finance’s core activities include dispute resolution services such as arbitration and mediation, expert opinions, determinations and risk assessment, as well as education and judicial training, and setting up a library and database of relevant cases. The key asset of the organisation is its Panel of Experts, and the commitment and spirit of cooperation that exists among them. The P.R.I.M.E. Finance Experts include sitting and retired judges, central bankers, regulators, academics, representatives from private legal practice and derivative market participants. It is a diverse and international group drawing on a wide variety of backgrounds in respect of its geographical representation, market and jurisdictional experience, linguistic skills and nationalities. This distinguished group of individuals has been carefully vetted and is committed to the goals of the organisation, including its independence.

By Professor Jeffrey Golden, Chairman of the Management Board of the P.R.I.M.E. Finance Foundation, and Camilla M.L. Perera-De Wit, Registrar, P.R.I.M.E. Finance (Reference: CapLaw-2013-5)