P.R.I.M.E. Finance is an independent, not-for-profit foundation. Its mission is to ensure that the requisite expertise is available to anticipate and address any disputes that may arise in the financial markets. Its goal in doing so is to reduce legal uncertainty and systemic risk, and to foster stability and confidence in, and a more settled and authoritative body of law for, world finance. P.R.I.M.E. Finance’s traditional focus has been on issues arising in relation to industry standards (e.g., documentation, market practices, valuations) for derivatives and other complex financial products. Now, with the growing interest in areas such as sustainable finance and financial technology, P.R.I.M.E. Finance also aims to anticipate how disputes may arise in these and other emerging areas of the financial markets and consider how it can best address them.
P.R.I.M.E. Finance’s core activities, and the pillars upon which P.R.I.M.E. Finance are based, are:
(i) dispute resolution services, including arbitration, mediation and facilitating the engagement of experts to serve as expert witnesses or advisers. Arbitrations under the P.R.I.M.E. Finance Arbitration Rules are administered by the Permanent Court of Arbitration (the PCA);
(ii) judicial training and education in both developed and developing markets and economies;
(iii) providing continuing education through conferences and webinars; and
(iv) maintaining a central database of international precedents and source materials, with the support of LexisNexis.
P.R.I.M.E. Finance’s vision is to be a centre of excellence, dedicated to promoting a more sophisticated approach to financial market dispute resolution.