P.R.I.M.E. Finance is the Panel of Recognised International Market Experts in Finance, an independent, not-for-profit foundation based in The Hague and established in the wake of the 2008 global financial crisis. Its mission is to reduce legal uncertainty and systemic risk by ensuring 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 foster financial market 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 are:
(i) building capacity in developed and developing countries to better understand capital markets and financial contracts through judicial training and education and outreach to market participants and regulators, working with other organisations that share this focus;
(ii) 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;
(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.