P.R.I.M.E. Finance: a New Dispute Resolution Facility for Conflicts Relating to Complex Financial Products

摘要

Recent years have shown that parties to financial disputes are less inclined to litigate their disputes before the courts in many jurisdictions. In particular, parties from the emerging markets may experience difficulties having foreign judgments enforced in a place where they ought to be. With securities trading no longer restricted to New York or London, the advantage of the international enforcement of arbitral awards becomes more apparent. P.R.I.M.E. Finance stands for 'Panel of Recognised International Market Experts in Finance'. The facility was established to help resolve, and to assist judicial systems in the resolution of, disputes concerning complex financial transactions. P.R.I.M.E. Finance has the support of key international regulatory bodies and is complementary to the ongoing financial market regulatory reform process.