P.R.I.M.E. Finance publishes new Arbitration and Mediation Rules
After several months of consultations with market and dispute resolution experts, P.R.I.M.E. Finance has published a revised and modernized version of its Arbitration and Mediation Rules.
On 9 February 2016 P.R.I.M.E. Finance published the second version of its Arbitration Rules. The release of the new version of the P.R.I.M.E. Finance Arbitration Rules came after several months of discussions and different rounds of consultations with industry leaders, both in the financial markets and dispute resolution sectors. The new version of the rules reaffirms P.R.I.M.E. Finance's objective to establish itself as the main international center for the resolution of complex financial disputes. The P.R.I.M.E. Finance Arbitration Rules take into account the specifics of disputes regarding complex financial products: e.g., the possibility of expedited procedures (article 2a), provisions on currency of the award (article 38), interest calculations (article 39), tax consequences (article 40) and confidentiality (article 35(5)).
Within a few weeks of the publication of the new Arbitration Rules, P.R.I.M.E. Finance also announced the release of the second version of its Mediation Rules. On 29 February 2016, the new P.R.I.M.E. Finance Mediation Rules were published. This revision, as it was the case with the Arbitration Rules, enjoyed the input of key industry participants after several and fruitful rounds of meetings and consultations.
The latest version of the P.R.I.M.E. Finance Arbitration and Mediation Rules can be found here.