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The Empire Strikes Back: Derivatives disputes, the financial list, test case scheme and arbitration
Capital Markets Law Journal ( IF 0.9 ) Pub Date : 2021-06-24 , DOI: 10.1093/cmlj/kmab017 Sabur Malik
中文翻译:
帝国反击:衍生品纠纷、财务清单、测试案例方案和仲裁
更新日期:2021-06-24
Capital Markets Law Journal ( IF 0.9 ) Pub Date : 2021-06-24 , DOI: 10.1093/cmlj/kmab017 Sabur Malik
Key points
The proliferation and complexity of derivatives continues to grow.- New York and London have built up a body of precedent and judicial expertise. In London, the judicial response is centred around the specialist Financial List and the Test Case Scheme.
- These have helped ensure the judiciary keeps apace with market developments.
- However, judges from many jurisdictions grapple with understanding the complexities inherent in derivatives.
- There is a growing trend towards commercial arbitration of disputes but calibrated incorrectly, this could impede the development of precedent and more generally conflict with open justice principles.
- P.R.I.M.E. Finance offers judicial training, industry education, the establishment of a database of case law, the provision of expert opinion and arbitration.
- Arbitral bodies inherently are primed to privacy, and finality of judgments.
- In order to work in harmony with courts, we set out a template for deciding which cases should be litigated, and which arbitrated and explore the challenges.
中文翻译:
帝国反击:衍生品纠纷、财务清单、测试案例方案和仲裁
关键点
衍生品的扩散和复杂性继续增长。- 纽约和伦敦已经建立了一套先例和司法专业知识。在伦敦,司法回应以专家财务清单和测试案例计划为中心。
- 这些有助于确保司法机构跟上市场发展的步伐。
- 然而,许多司法管辖区的法官都在努力理解衍生品固有的复杂性。
- 争议的商业仲裁有日益增长的趋势,但校准不正确,这可能会阻碍先例的发展,更普遍地与公开正义原则相冲突。
- PRIME Finance 提供司法培训、行业教育、案例法数据库的建立、专家意见和仲裁的提供。
- 仲裁机构本质上以隐私和判决的终局性为前提。
- 为了与法院协调工作,我们制定了一个模板来决定哪些案件应该诉讼,哪些案件应该仲裁并探索挑战。