P.R.I.M.E. Finance, based in The Hague, has been established to assist judicial systems in the settlement of disputes on complex financial transactions. The organization's core activities will include education and judicial training, providing expert opinions, determinations and risk assessment and arbitration or mediation. P.R.I.M.E. will oversee and be supported by a Panel of Experts which currently includes some of the most senior people in the financial markets with collectively over 2,000 years of experience in these markets. The market need for this initiative has been identified through meetings in 2010 and 2011 with dealer and “buy-side” market participants, market experts, jurists and financial market regulators in various financial centers of the world.
P.R.I.M.E. Finance’s Advisory Board is chaired by Lord Woolf of Barnes, former Lord Chief Justice of England and Wales, and its Management Board is chaired by Professor Jeffrey Golden, Visiting Professor at the London School of Economics and Political Science, former Founder Partner of Allen & Overy LLP's US law practice and a Senior Partner in the firm’s global derivatives practice. A guiding principal of the organization is independence, which will distinguish it from industry associations and other financial market participants.